Arcus Biosciences, Inc. $RCUS Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC reduced its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 455,596 shares of the company’s stock after selling 35,017 shares during the period. Granahan Investment Management LLC’s holdings in Arcus Biosciences were worth $6,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Arcus Biosciences by 253.9% during the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Arcus Biosciences by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after buying an additional 3,565 shares during the period. Millennium Management LLC grew its holdings in shares of Arcus Biosciences by 29.2% during the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after buying an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Arcus Biosciences by 106.2% in 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 acquired a new position in shares of Arcus Biosciences in the 1st quarter valued at $67,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Trading Down 3.4%

NYSE RCUS opened at $21.92 on Monday. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $26.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.36 and a quick ratio of 4.36. The company has a market capitalization of $2.75 billion, a PE ratio of -6.64 and a beta of 0.85. The company has a fifty day moving average of $21.51 and a 200 day moving average of $19.46.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.22. The company had revenue of $33.00 million for the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.03) EPS. Research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Analyst Ratings Changes

RCUS has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. Leerink Partners increased their price objective on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Wall Street Zen upgraded Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. Finally, Truist Financial set a $30.00 target price on Arcus Biosciences in a research report on Friday, December 12th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.20.

Insider Transactions at Arcus Biosciences

In related news, President Juan C. Jaen sold 31,823 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.41, for a total transaction of $681,330.43. Following the sale, the president directly owned 922,240 shares of the company’s stock, valued at $19,745,158.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert C. Goeltz II sold 6,552 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total value of $153,185.76. Following the transaction, the chief financial officer owned 67,924 shares of the company’s stock, valued at approximately $1,588,063.12. This represents a 8.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 180,990 shares of company stock valued at $3,974,764. 9.60% of the stock is owned by insiders.

About Arcus Biosciences

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.