Arcus Biosciences, Inc. $RCUS Shares Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in Arcus Biosciences by 45.5%, now owning approximately 4.84% of the company, valued at around $40.25 million.
• Arcus Biosciences reported earnings of ($1.11) per share for the quarter, surpassing analyst expectations of ($1.14), with revenue soaring to $160 million, up 310.3% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Arcus Biosciences, with the average price target set at $21.14.

Woodline Partners LP boosted its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 45.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,127,304 shares of the company's stock after purchasing an additional 1,603,367 shares during the period. Woodline Partners LP owned approximately 4.84% of Arcus Biosciences worth $40,249,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Gilead Sciences Inc. increased its position in shares of Arcus Biosciences by 4.5% during the first 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 last quarter. Vanguard Group Inc. grew 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 valued at $52,499,000 after purchasing an additional 1,298,584 shares in the last quarter. RA Capital Management L.P. acquired a new stake in Arcus Biosciences during the 1st quarter valued at approximately $8,920,000. Wellington Management Group LLP purchased a new stake in Arcus Biosciences during the 1st quarter worth approximately $8,500,000. Finally, Cutter Capital Management LP acquired a new position in shares of Arcus Biosciences in the 1st quarter valued at approximately $5,745,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $21.14.

Arcus Biosciences Price Performance

NYSE:RCUS traded down $0.02 during midday trading on Monday, hitting $11.50. 154,830 shares of the stock were exchanged, compared to its average volume of 998,070. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.63 and a beta of 0.82. The business has a 50-day moving average price of $10.02 and a two-hundred day moving average price of $9.15. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.The firm had revenue of $160.00 million for the quarter, compared to analysts' expectations of $32.86 million. During the same quarter in the previous year, the company earned ($1.02) earnings per share. The firm's quarterly revenue was up 310.3% compared to the same quarter last year. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

About Arcus Biosciences

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.