Arcus Biosciences, Inc. $RCUS Shares Acquired by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets boosted its stake in Arcus Biosciences by 404.7% in the fourth quarter, ending with 424,071 shares worth about $10.1 million.
• Several other hedge funds also adjusted positions in RCUS, and institutional investors now own 92.89% of the company while insiders hold 9.60%.
• Arcus Biosciences reported a wider-than-expected quarterly loss and weaker revenue, while analysts remain mixed-to-optimistic overall with a Moderate Buy consensus and a target price of $35.10.

BNP Paribas Financial Markets lifted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 404.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 424,071 shares of the company's stock after buying an additional 340,048 shares during the period. BNP Paribas Financial Markets owned approximately 0.39% of Arcus Biosciences worth $10,106,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in Arcus Biosciences by 121.9% in 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 during the period. SBI Securities Co. Ltd. lifted its position in Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company's stock valued at $39,000 after purchasing an additional 2,845 shares during the period. Strs Ohio acquired a new stake in Arcus Biosciences in the first quarter valued at about $67,000. Abich Financial Wealth Management LLC acquired a new stake in Arcus Biosciences in the third quarter valued at about $69,000. Finally, Tower Research Capital LLC TRC lifted its position in Arcus Biosciences by 184.2% in the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company's stock valued at $69,000 after purchasing an additional 5,476 shares during the period. Institutional investors and hedge funds own 92.89% of the company's stock.

Insider Activity at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,562 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at $1,020,002.37. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares of the company's stock, valued at $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. 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. Corporate insiders own 9.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcus Biosciences in a report on Monday, April 20th. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a report on Monday, April 20th. Wells Fargo & Company set a $23.00 target price on shares of Arcus Biosciences and gave the company an "equal weight" rating in a report on Thursday, February 12th. Wall Street Zen cut shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Wedbush increased their target price on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, April 2nd. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.10.

Arcus Biosciences Stock Up 0.3%

RCUS stock opened at $23.26 on Tuesday. The company has a 50 day moving average price of $23.88 and a two-hundred day moving average price of $22.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $2.92 billion, a P/E ratio of -7.31 and a beta of 0.85. Arcus Biosciences, Inc. has a one year low of $7.91 and a one year high of $28.72.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business had revenue of $17.00 million for the quarter, compared to analysts' expectations of $29.49 million. During the same period in the prior year, the company earned ($1.14) EPS. The company's revenue for the quarter was down 39.3% compared to the same quarter last year. As a group, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.61 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.