Wellington Management Group LLP decreased its position in Arcus Biosciences, Inc. (NYSE:RCUS – Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,895,448 shares of the company’s stock after selling 194,068 shares during the quarter. Wellington Management Group LLP’s holdings in Arcus Biosciences were worth $181,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in shares of 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 acquiring an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at $39,000. KBC Group NV purchased a new stake in shares of Arcus Biosciences in the 1st quarter valued at $50,000. Strs Ohio bought a new position in shares of Arcus Biosciences during the 1st quarter valued at $67,000. Finally, Tower Research Capital LLC TRC raised its position in Arcus Biosciences by 184.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after purchasing an additional 5,476 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.
Analyst Ratings Changes
Several analysts have weighed in on RCUS shares. Lifesci Capital assumed coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target for the company. HC Wainwright lifted their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. Finally, Wells Fargo & Company raised their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Eight 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.80.
Insider Transactions at Arcus Biosciences
In other news, President Juan C. Jaen sold 20,067 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the completion of the sale, the president directly owned 822,240 shares in the company, valued at approximately $23,532,508.80. This represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% 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. Over the last quarter, insiders have sold 102,827 shares of company stock valued at $2,994,141. 7.60% of the stock is currently owned by company insiders.
Arcus Biosciences Trading Up 0.2%
NYSE:RCUS opened at $29.26 on Tuesday. The firm has a market capitalization of $3.73 billion, a P/E ratio of -7.50 and a beta of 0.80. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $29.18 and a 200 day moving average of $25.17. Arcus Biosciences, Inc. has a 52 week low of $10.40 and a 52 week high of $31.74.
Arcus Biosciences (NYSE:RCUS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $21.98 million. The company’s revenue for the quarter was down 74.4% on a year-over-year basis. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.6 earnings per share for the current 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.
Featured Stories
- Five stocks we like better than Arcus Biosciences
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding RCUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arcus Biosciences, Inc. (NYSE:RCUS – Free Report).
Receive News & Ratings for Arcus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.
