DAFNA Capital Management LLC Grows Position in Arcus Biosciences, Inc. $RCUS

Key Points

• DAFNA Capital Management LLC significantly increased its stake in Arcus Biosciences, acquiring 625,126 shares, which constitutes a 145.9% boost during the first quarter.
• Arcus Biosciences reported a 310.3% year-over-year revenue growth with earnings of $160.00 million, exceeding analyst expectations of $32.86 million.
• Brokerages have provided mixed ratings for Arcus Biosciences, with a consensus rating of "Moderate Buy" and a target price averaging $21.14.

DAFNA Capital Management LLC boosted its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 145.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 625,126 shares of the company's stock after acquiring an additional 370,909 shares during the period. Arcus Biosciences accounts for about 1.4% of DAFNA Capital Management LLC's investment portfolio, making the stock its 21st largest position. DAFNA Capital Management LLC owned about 0.59% of Arcus Biosciences worth $4,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCUS. Boxer Capital Management LLC bought a new stake in Arcus Biosciences during the 4th quarter worth approximately $23,857,000. Gilead Sciences Inc. raised its stake in Arcus Biosciences by 4.5% during the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company's stock worth $246,684,000 after acquiring an additional 1,363,636 shares during the period. Vanguard Group Inc. raised its stake in Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock worth $52,499,000 after acquiring an additional 1,298,584 shares during the period. Wellington Management Group LLP bought a new stake in Arcus Biosciences during the 1st quarter worth approximately $8,500,000. Finally, Braidwell LP bought a new stake in Arcus Biosciences during the 4th quarter worth approximately $11,943,000. Institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on RCUS shares. Wall Street Zen upgraded shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company reduced their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. The Goldman Sachs Group reduced their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Wedbush reiterated an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.14.

Arcus Biosciences Trading Up 7.7%

NYSE RCUS traded up $0.83 on Wednesday, hitting $11.64. 1,116,017 shares of the stock were exchanged, compared to its average volume of 1,006,533. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. The stock has a fifty day moving average price of $9.50 and a two-hundred day moving average price of $9.12. The firm has a market capitalization of $1.24 billion, a P/E ratio of -3.67 and a beta of 0.83. Arcus Biosciences, Inc. has a 52-week low of $6.50 and a 52-week high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.03. The firm had revenue of $160.00 million during the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The business's revenue was up 310.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.02) earnings per share. Research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.