Knott David M Jr Trims Stock Holdings in Arcus Biosciences, Inc. $RCUS

Knott David M Jr lowered its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 33.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 81,241 shares of the company’s stock after selling 40,000 shares during the quarter. Arcus Biosciences makes up approximately 1.0% of Knott David M Jr’s investment portfolio, making the stock its 23rd largest holding. Knott David M Jr’s holdings in Arcus Biosciences were worth $1,755,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Arcus Biosciences by 253.9% in the 1st 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 3,565 shares in the last quarter. Millennium Management LLC raised its holdings in Arcus Biosciences by 29.2% during 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 during the period. Goldman Sachs Group Inc. raised its holdings in 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 purchased a new stake in shares of Arcus Biosciences during the first quarter worth $67,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Down 0.9%

Arcus Biosciences stock opened at $29.71 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. Arcus Biosciences, Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $31.74. The stock has a market cap of $3.74 billion, a P/E ratio of -9.34 and a beta of 0.80. The firm’s fifty day moving average price is $26.49 and its 200-day moving average price is $23.82.

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 the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.48 million. During the same period in the prior year, the business posted ($1.14) EPS. Arcus Biosciences’s quarterly revenue was down 39.3% on a year-over-year basis. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCUS has been the subject of a number of analyst reports. HC Wainwright raised their price target on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group boosted their price objective on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Lifesci Capital assumed coverage on Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective on the stock. Truist Financial assumed coverage on Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Eight 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. Based on data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares in the company, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing 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 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 value of $574,317.54. Following the transaction, the president directly owned 822,240 shares of the company’s stock, valued at $23,532,508.80. The trade was a 2.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 110,325 shares of company stock valued at $3,174,319 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

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.