Odyssean LLC Makes New Investment in Arcus Biosciences, Inc. $RCUS

Odyssean LLC acquired a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, HoldingsChannel reports. The fund acquired 85,497 shares of the company’s stock, valued at approximately $2,636,000.

Several other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. lifted its stake in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after buying an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at approximately $39,000. KBC Group NV acquired a new position in shares of Arcus Biosciences during the first quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in shares of Arcus Biosciences by 10.0% in the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after acquiring an additional 359 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Arcus Biosciences in the second quarter valued at approximately $142,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RCUS shares. Lifesci Capital assumed coverage on Arcus Biosciences in a research report on Thursday, June 4th. They set an “outperform” rating and a $46.00 price target for the company. Wells Fargo & Company raised their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. HC Wainwright lifted their target price on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Truist Financial assumed coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Finally, Wedbush increased 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. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $37.80.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $31.42 on Wednesday. The stock’s fifty day moving average is $28.78 and its two-hundred day moving average is $24.91. The firm has a market capitalization of $4.00 billion, a P/E ratio of -8.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. Arcus Biosciences, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $31.74.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences’s revenue was down 74.4% on a year-over-year basis. On average, research analysts anticipate that Arcus Biosciences, Inc. will post -3.53 earnings per share for the current year.

Insider Activity

In related news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the sale, the president owned 842,307 shares of the company’s stock, valued at approximately $25,311,325.35. The trade was a 5.44% 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 105,389 shares of company stock worth $3,060,164. Corporate insiders own 7.60% of the company’s stock.

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.