Sectoral Asset Management Inc. decreased its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS – Free Report) by 84.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,945 shares of the company’s stock after selling 311,125 shares during the quarter. Arcus Biosciences accounts for 1.1% of Sectoral Asset Management Inc.’s portfolio, making the stock its 28th largest position. Sectoral Asset Management Inc.’s holdings in Arcus Biosciences were worth $1,357,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its position in Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after buying an additional 2,845 shares in the last quarter. Strs Ohio purchased a new position in Arcus Biosciences during the first quarter worth $67,000. Abich Financial Wealth Management LLC purchased a new position in Arcus Biosciences during the third quarter worth $69,000. Finally, Tower Research Capital LLC TRC increased its position in Arcus Biosciences by 184.2% during the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after buying an additional 5,476 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.
Insider Activity at Arcus Biosciences
In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is currently owned by corporate insiders.
Arcus Biosciences Price Performance
Arcus Biosciences (NYSE:RCUS – Get Free Report) last announced 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). The business had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.14) EPS. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.54 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have weighed in on RCUS shares. Morgan Stanley raised their price target on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. Truist Financial started coverage on Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 price target for the company. Wedbush raised their price target on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 2nd. Seven 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.89.
View Our Latest Research Report on RCUS
Arcus Biosciences Profile
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.
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