Deutsche Bank AG Purchases Shares of 94,710 Arcus Biosciences, Inc. $RCUS

Deutsche Bank AG acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, HoldingsChannel reports. The fund acquired 94,710 shares of the company’s stock, valued at approximately $2,920,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Arcus Biosciences by 10.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after purchasing an additional 359 shares in the last quarter. Royal Bank of Canada grew its position in Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after buying an additional 607 shares during the period. Creative Planning grew its position in Arcus Biosciences by 2.7% during the third quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after buying an additional 771 shares during the period. Hantz Financial Services Inc. grew its position in Arcus Biosciences by 121.9% during the fourth 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 during the period. Finally, New York State Teachers Retirement System increased its holdings in Arcus Biosciences by 1.1% in the fourth quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock valued at $2,203,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RCUS. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. Lifesci Capital started coverage on Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price objective for the company. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a research note on Monday, August 10th. Finally, Wedbush increased their target price on 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Arcus Biosciences Trading Down 2.1%

Shares of RCUS opened at $30.91 on Thursday. Arcus Biosciences, Inc. has a 52-week low of $10.25 and a 52-week high of $31.74. The stock has a market cap of $3.94 billion, a PE ratio of -7.93 and a beta of 0.80. The firm’s fifty day moving average is $28.91 and its two-hundred day moving average is $24.99. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22.

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, topping the consensus estimate of ($0.89) by $0.17. The firm 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 quarterly revenue was down 74.4% on a year-over-year basis. Research analysts forecast that Arcus Biosciences, Inc. will post -3.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,187,430. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total value of $1,457,485.10. Following the completion of the sale, the president owned 842,307 shares of the company’s stock, valued at $25,311,325.35. This trade represents 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. Insiders sold a total of 105,389 shares of company stock worth $3,060,164 over the last three months. 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.