VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.15 Million in Arcus Biosciences, Inc. $RCUS

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the second quarter, according to its most recent filing with the SEC. The firm bought 37,350 shares of the company’s stock, valued at approximately $1,152,000.

Several other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC increased its stake in Arcus Biosciences by 253.9% during the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Arcus Biosciences by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock valued at $297,000 after buying an additional 3,565 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Arcus Biosciences by 29.2% during the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after buying an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after buying an additional 470,755 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Arcus Biosciences during the first quarter worth about $67,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insider Activity at Arcus Biosciences

In other news, President Juan Jaen sold 48,502 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total value of $1,457,485.10. Following the transaction, the president owned 842,307 shares in the company, valued at $25,311,325.35. The trade was a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 102,827 shares of company stock worth $2,994,141. Insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RCUS shares. Truist Financial restated a “buy” rating and issued a $40.00 target price (up from $35.00) on shares of Arcus Biosciences in a report on Tuesday. Morgan Stanley set a $23.00 price target on Arcus Biosciences in a research note on Monday, August 10th. Lifesci Capital began coverage on Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective for the company. Wedbush increased their price objective on Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and a consensus price target of $38.30.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $24.62 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a 50-day moving average of $28.92 and a 200-day moving average of $25.71. Arcus Biosciences, Inc. has a one year low of $11.30 and a one year high of $31.74. The company has a market cap of $3.14 billion, a P/E ratio of -6.31 and a beta of 0.81.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The business had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $21.98 million. The firm’s revenue for the quarter was down 74.4% on a year-over-year basis. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.6 EPS for the current fiscal year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company combines antibody-based therapies, small-molecule drugs and combination treatment strategies designed to influence the immune system and other biological pathways involved in tumor growth.

Its oncology pipeline includes investigational therapies targeting pathways such as TIGIT, PD-1, CD73, adenosine receptors and HIF-2α. Key programs have included domvanalimab, an anti-TIGIT antibody; zimberelimab, an anti-PD-1 antibody; quemliclustat, a CD73 inhibitor; etrumadenant, an adenosine receptor antagonist; and AB521, an HIF-2α inhibitor.