Arcus Biosciences, Inc. $RCUS Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 167.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,949,788 shares of the company’s stock after buying an additional 1,220,635 shares during the period. Fisher Asset Management LLC’s holdings in Arcus Biosciences were worth $46,463,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Arcus Biosciences by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after acquiring an additional 1,333,421 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Arcus Biosciences by 173.5% in the third quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock worth $18,507,000 after acquiring an additional 863,162 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Arcus Biosciences by 35.3% in the third quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock worth $17,222,000 after acquiring an additional 330,268 shares during the last quarter. Sofinnova Investments Inc. boosted its position in shares of Arcus Biosciences by 17.2% in the second quarter. Sofinnova Investments Inc. now owns 1,216,016 shares of the company’s stock worth $9,898,000 after acquiring an additional 178,240 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after acquiring an additional 270,253 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RCUS shares. Citigroup raised their target price on shares of Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. The Goldman Sachs Group lifted their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley lifted their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. Finally, Wedbush lifted their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 2nd. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.89.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer owned 84,161 shares in the company, valued at $2,157,046.43. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is owned by corporate insiders.

Arcus Biosciences Trading Up 3.2%

Shares of RCUS stock opened at $24.17 on Wednesday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -7.60 and a beta of 0.87. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $28.72. The firm’s 50 day moving average price is $23.41 and its two-hundred day moving average price is $22.58.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The firm had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.14) EPS. On average, analysts anticipate that Arcus Biosciences, Inc. will post -3.54 EPS for the current year.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.