Rafferty Asset Management LLC Cuts Stake in Arcus Biosciences, Inc. $RCUS

Rafferty Asset Management LLC lessened its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,649 shares of the company’s stock after selling 29,041 shares during the quarter. Rafferty Asset Management LLC’s holdings in Arcus Biosciences were worth $947,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after buying an additional 1,021 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Arcus Biosciences by 13,547.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after acquiring an additional 2,845 shares during the period. Ameritas Investment Partners Inc. grew its position in Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after acquiring an additional 1,796 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Arcus Biosciences by 440.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company’s stock valued at $62,000 after acquiring an additional 6,191 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Arcus Biosciences during the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $22.12 on Friday. The company has a market cap of $2.77 billion, a P/E ratio of -6.70 and a beta of 0.85. The business has a 50 day moving average of $21.52 and a two-hundred day moving average of $18.88. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $26.40. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16.

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

Insider Buying and Selling

In other news, CAO Alexander Azoy sold 4,343 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $22.25, for a total transaction of $96,631.75. Following the sale, the chief accounting officer owned 18,531 shares of the company’s stock, valued at approximately $412,314.75. The trade was a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard Markus sold 4,494 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total value of $99,587.04. Following the transaction, the insider owned 65,647 shares of the company’s stock, valued at approximately $1,454,737.52. This represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 180,990 shares of company stock valued at $3,974,764 in the last ninety days. Insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RCUS shares. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research report on Monday, March 2nd. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Citigroup upped their price objective on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America raised their target price on Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.20.

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.