Decheng Capital LLC Reduces Stock Holdings in Arcus Biosciences, Inc. $RCUS

Decheng Capital LLC cut its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 11.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,819 shares of the company’s stock after selling 63,740 shares during the period. Arcus Biosciences makes up about 1.6% of Decheng Capital LLC’s holdings, making the stock its 8th biggest position. Decheng Capital LLC owned 0.38% of Arcus Biosciences worth $10,321,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. First Trust Advisors LP purchased a new position in Arcus Biosciences in the 1st quarter worth about $283,000. KBC Group NV purchased a new stake in Arcus Biosciences during the first quarter valued at about $50,000. Swiss National Bank lifted its stake in Arcus Biosciences by 2.0% during the first quarter. Swiss National Bank now owns 171,296 shares of the company’s stock valued at $3,700,000 after buying an additional 3,300 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arcus Biosciences by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 21,041 shares of the company’s stock worth $460,000 after buying an additional 2,168 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Arcus Biosciences by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 511,166 shares of the company’s stock worth $11,041,000 after acquiring an additional 6,704 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $29.88 on Thursday. The company has a market capitalization of $3.76 billion, a PE ratio of -9.40 and a beta of 0.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The company’s 50 day moving average price is $26.40 and its 200 day moving average price is $23.77. Arcus Biosciences, Inc. has a 52 week low of $8.84 and a 52 week high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.48 million. During the same quarter in the previous year, the company earned ($1.14) EPS. The firm’s quarterly revenue was down 39.3% compared to the same quarter last year. Research analysts expect that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on RCUS. The Goldman Sachs Group lifted their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. HC Wainwright increased their target price on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Truist Financial started coverage on Arcus Biosciences in a research report on Monday, May 18th. They issued a “buy” rating and a $35.00 target price for the company. Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Finally, Wedbush upped their price target on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,562 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at $2,157,046.43. This trade represents a 8.45% 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 have sold 110,325 shares of company stock worth $3,174,319 over the last 90 days. 7.60% of the stock is currently owned by corporate 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.