Baker BROS. Advisors LP Makes New $6.43 Million Investment in Arcus Biosciences, Inc. $RCUS

Baker BROS. Advisors LP bought a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) in the fourth quarter, Holdings Channel.com reports. The firm bought 270,000 shares of the company’s stock, valued at approximately $6,434,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RCUS. AQR Capital Management LLC boosted its position in Arcus Biosciences by 253.9% during the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after purchasing an additional 65,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 purchasing an additional 3,565 shares during the period. Millennium Management LLC boosted its position in Arcus Biosciences by 29.2% during the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after purchasing an additional 270,253 shares during the period. Goldman Sachs Group Inc. boosted its position in Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after purchasing an additional 470,755 shares during the period. Finally, Strs Ohio bought a new position in Arcus Biosciences during the first quarter worth about $67,000. Institutional investors own 92.89% of the company’s stock.

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly owned 84,161 shares in the company, valued at $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The sale 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, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. The trade was a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RCUS has been the subject of a number of research reports. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research report on Monday, April 20th. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research report on Monday, March 2nd. Truist Financial initiated coverage on shares of Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. Finally, Morgan Stanley increased their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.10.

Arcus Biosciences Price Performance

RCUS stock opened at $24.15 on Thursday. The firm has a 50 day moving average of $24.12 and a 200-day moving average of $22.89. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences, Inc. has a 12 month low of $7.91 and a 12 month high of $28.72. The firm has a market capitalization of $3.04 billion, a P/E ratio of -7.59 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.49 million. During the same quarter last year, the business posted ($1.14) earnings per share. Arcus Biosciences’s revenue was down 39.3% compared to the same quarter last year. As a group, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

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.