42,338 Shares in Arcus Biosciences, Inc. $RCUS Acquired by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 42,338 shares of Arcus Biosciences in the second quarter, valued at approximately $1.31 million. Institutional investors collectively own 92.89% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $37.80, although some firms issued “Sell” ratings or lower targets.
• Arcus reported quarterly revenue of $41.0 million and an adjusted loss of $0.72 per share, beating estimates, but revenue fell 74.4% year over year. Insiders have sold 102,827 shares worth about $3.0 million over the past 90 days.

Jupiter Topco LLC purchased a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,338 shares of the company's stock, valued at approximately $1,306,000.

Several other large investors also recently bought and sold shares of the business. Nicholas Investment Partners LP purchased a new stake in shares of Arcus Biosciences in the fourth quarter valued at about $4,869,000. First Turn Management LLC acquired a new position in Arcus Biosciences in the 4th quarter valued at about $13,467,000. Bank of New York Mellon Corp purchased a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $16,741,000. Baker BROS. Advisors LP purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at approximately $6,434,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Arcus Biosciences during the 2nd quarter worth approximately $1,202,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 20,067 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the sale, the president owned 822,240 shares of the company's stock, valued at approximately $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares of the company's stock, valued at $1,187,430. This represents a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 102,827 shares of company stock valued at $2,994,141. 7.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Wall Street Zen downgraded Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Morgan Stanley set a $23.00 price target on Arcus Biosciences in a research note on Monday, August 10th. Lifesci Capital started coverage on Arcus Biosciences in a report on Thursday, June 4th. They set an "outperform" rating and a $46.00 price target for the company. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $42.00 price objective on shares of Arcus Biosciences in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.80.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $29.67 on Friday. The stock has a market cap of $3.78 billion, a P/E ratio of -7.61 and a beta of 0.81. The company has a fifty day simple moving average of $29.21 and a 200-day simple moving average of $25.41. Arcus Biosciences, Inc. has a 12-month low of $11.04 and a 12-month high of $31.74. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The firm 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% compared to the same quarter last year. Equities analysts expect that Arcus Biosciences, Inc. will post -3.6 EPS 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.

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