Arcus Biosciences, Inc. $RCUS Position Decreased by Montanova Capital LLC

Key Points

• Montanova Capital reduced its Arcus Biosciences stake by 5.1% in the second quarter, selling 254,570 shares. It still held 4.78 million shares worth approximately $147.3 million, representing about 3.75% of RCUS.
• Institutional investors own 92.89% of Arcus Biosciences, while insiders have sold 102,827 shares worth nearly $3.0 million over the past 90 days, including sales by the president and chief accounting officer under pre-arranged trading plans.
• Analyst sentiment remains mixed but leans positive: eight analysts rate the stock a Buy, three rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $37.80 versus a recent price of $29.26.

Montanova Capital LLC decreased its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,776,423 shares of the company's stock after selling 254,570 shares during the period. Arcus Biosciences comprises approximately 2.4% of Montanova Capital LLC's holdings, making the stock its 10th largest position. Montanova Capital LLC owned about 3.75% of Arcus Biosciences worth $147,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCUS. Hantz Financial Services Inc. lifted 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 valued at $38,000 after purchasing an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Arcus Biosciences in the fourth quarter worth about $39,000. KBC Group NV bought a new position in shares of Arcus Biosciences in the first quarter worth about $50,000. Strs Ohio bought a new position in shares of Arcus Biosciences in the first quarter worth about $67,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Arcus Biosciences by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company's stock valued at $69,000 after buying an additional 5,476 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arcus Biosciences

In related news, President Juan C. Jaen sold 48,502 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the transaction, the president directly owned 842,307 shares of the company's stock, valued at approximately $25,311,325.35. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the transaction, 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. The SEC filing for this sale provides additional information. 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. Company insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of recent research reports. HC Wainwright boosted their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Wall Street Zen lowered shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Wells Fargo & Company increased their price objective on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. The Goldman Sachs Group restated a "buy" rating and set a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcus Biosciences in a report on Friday, July 17th. Eight investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.80.

Arcus Biosciences Price Performance

RCUS stock opened at $29.26 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. The company's fifty day moving average price is $29.18 and its 200-day moving average price is $25.17. Arcus Biosciences, Inc. has a one year low of $10.40 and a one year high of $31.74. The company has a market capitalization of $3.73 billion, a PE ratio of -7.50 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.17. The company had revenue of $41.00 million during the quarter, compared to analysts' expectations of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The firm's revenue was down 74.4% compared to the same quarter last year. On average, equities analysts anticipate that Arcus Biosciences, Inc. will post -3.6 EPS for the current fiscal year.

Arcus Biosciences Company 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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