Handelsbanken Fonder AB Acquires Shares of 39,000 Arcus Biosciences, Inc. $RCUS

Handelsbanken Fonder AB bought a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 39,000 shares of the company’s stock, valued at approximately $1,202,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Arcus Biosciences by 253.9% during the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after buying an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Arcus Biosciences by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock valued at $297,000 after acquiring an additional 3,565 shares in the last quarter. Millennium Management LLC raised its holdings in Arcus Biosciences by 29.2% in the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after acquiring an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after acquiring an additional 470,755 shares during the period. Finally, Strs Ohio bought a new stake in shares of Arcus Biosciences during the 1st quarter valued at $67,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RCUS has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Truist Financial started coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 target price on the stock. Wedbush boosted their target price on shares of Arcus Biosciences from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Lifesci Capital started coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Insider Transactions at Arcus Biosciences

In other news, President Juan C. Jaen sold 20,067 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $28.62, for a total transaction of $574,317.54. Following the sale, the president directly owned 822,240 shares in the company, valued at approximately $23,532,508.80. The trade was a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.77, for a total value of $66,022.74. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 102,562 shares of company stock worth $2,975,354 over the last three months. Insiders own 7.60% of the company’s stock.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $29.51 on Wednesday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.76 billion, a PE ratio of -7.57 and a beta of 0.80. Arcus Biosciences, Inc. has a 12-month low of $9.81 and a 12-month high of $31.74. The business’s 50-day moving average price is $28.09 and its two-hundred day moving average price is $24.60.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. The company had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. Arcus Biosciences’s revenue was down 74.4% on a year-over-year basis. As a group, analysts expect that Arcus Biosciences, Inc. will post -3.51 earnings per share for the current fiscal year.

Arcus Biosciences 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.