Arcus Biosciences, Inc. $RCUS Holdings Lessened by Montanova Capital LLC

Montanova Capital LLC lowered its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 5.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,776,423 shares of the company’s stock after selling 254,570 shares during the period. Arcus Biosciences accounts for approximately 2.4% of Montanova Capital LLC’s holdings, making the stock its 10th largest holding. Montanova Capital LLC’s holdings in Arcus Biosciences were worth $147,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its stake in shares of 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 purchasing an additional 881 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Arcus Biosciences in the fourth quarter worth $39,000. KBC Group NV purchased a new position in Arcus Biosciences during the first quarter worth $50,000. Strs Ohio bought a new position in Arcus Biosciences during the first quarter valued at $67,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Arcus Biosciences by 184.2% in the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock valued at $69,000 after acquiring an additional 5,476 shares during the period. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Trading Up 0.2%

NYSE RCUS opened at $29.26 on Tuesday. The stock has a market cap of $3.73 billion, a PE ratio of -7.50 and a beta of 0.80. Arcus Biosciences, Inc. has a 12 month low of $10.40 and a 12 month high of $31.74. The company’s 50-day moving average price is $29.18 and its 200-day moving average price is $25.17. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data 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. The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations 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 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 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In related news, President Juan C. Jaen sold 20,067 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the sale, the president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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 2,827 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was 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 in the company, valued at approximately $1,187,430. This trade represents a 6.67% 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 102,827 shares of company stock valued at $2,994,141 in the last ninety days. Insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley set a $23.00 price target on shares of Arcus Biosciences in a research note on Monday, August 10th. Wedbush raised their price objective on shares of Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. HC Wainwright boosted their target price on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Wells Fargo & Company increased their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Finally, Lifesci Capital assumed coverage on Arcus Biosciences in a research note 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

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.