Arcus Biosciences, Inc. $RCUS Position Trimmed by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 35.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 88,163 shares of the company’s stock after selling 49,475 shares during the quarter. Fisher Asset Management LLC’s holdings in Arcus Biosciences were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Woodline Partners LP increased its holdings in shares of Arcus Biosciences by 45.5% in the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after acquiring an additional 1,603,367 shares during the period. Gilead Sciences Inc. lifted its holdings in Arcus Biosciences by 4.5% in the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock valued at $246,684,000 after acquiring an additional 1,363,636 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 24.1% during the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after buying an additional 1,298,584 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of Arcus Biosciences during the 1st quarter worth $8,920,000. Finally, Wellington Management Group LLP purchased a new position in Arcus Biosciences in the 1st quarter worth about $8,500,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Trading Up 1.0%

Shares of RCUS opened at $25.50 on Friday. The stock’s 50-day moving average price is $19.25 and its 200 day moving average price is $13.16. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -7.41 and a beta of 0.75. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.06. The firm had revenue of $26.00 million for the quarter, compared to the consensus estimate of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.00) earnings per share. As a group, research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Analyst Ratings Changes

RCUS has been the topic of several research analyst reports. Truist Financial reiterated a “buy” rating and set a $39.00 price objective (up from $32.00) on shares of Arcus Biosciences in a research report on Tuesday, October 7th. The Goldman Sachs Group increased their price objective on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Wells Fargo & Company increased their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. HC Wainwright raised their target price on Arcus Biosciences from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.44.

Insider Buying and Selling

In other news, CAO Alexander Azoy sold 1,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $26.00, for a total value of $49,400.00. Following the sale, the chief accounting officer directly owned 27,363 shares in the company, valued at approximately $711,438. This represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert C. Goeltz II sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer owned 92,138 shares in the company, valued at $1,842,760. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 294,193 shares of company stock valued at $6,098,761 over the last ninety days. Company insiders own 9.60% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.