PDT Partners LLC Sells 35,454 Shares of Arcus Biosciences, Inc. $RCUS

Key Points

• PDT Partners LLC decreased its stake in Arcus Biosciences by 28.2%, selling 35,454 shares, and now owns 90,298 shares valued at approximately $709,000.
• Analysts have mixed views on Arcus Biosciences, with Goldman Sachs lowering its price target from $15 to $13, while Wall Street Zen upgraded the stock from "strong sell" to "hold."
• Despite a loss of ($1.11) earnings per share, Arcus Biosciences reported a 310.3% increase in revenue year-over-year, reaching $160 million for the quarter.

PDT Partners LLC decreased its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 28.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 90,298 shares of the company's stock after selling 35,454 shares during the quarter. PDT Partners LLC owned about 0.09% of Arcus Biosciences worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCUS. Raymond James Financial Inc. acquired a new stake in Arcus Biosciences during the 4th quarter worth approximately $531,000. First Trust Advisors LP increased its holdings in shares of Arcus Biosciences by 43.1% during the fourth quarter. First Trust Advisors LP now owns 17,708 shares of the company's stock valued at $264,000 after purchasing an additional 5,337 shares during the period. Dimensional Fund Advisors LP grew its holdings in Arcus Biosciences by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company's stock worth $25,348,000 after acquiring an additional 178,351 shares during the period. Voya Investment Management LLC increased its stake in Arcus Biosciences by 37.5% in the 4th quarter. Voya Investment Management LLC now owns 24,674 shares of the company's stock worth $367,000 after purchasing an additional 6,733 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Arcus Biosciences by 4.3% during the 4th quarter. Northern Trust Corp now owns 532,099 shares of the company's stock worth $7,923,000 after acquiring an additional 22,181 shares during the period. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Stock Performance

NYSE:RCUS traded down $0.12 during mid-day trading on Tuesday, hitting $11.32. 167,873 shares of the stock were exchanged, compared to its average volume of 1,004,620. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.57 and a beta of 0.82. 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 firm's 50-day simple moving average is $9.78 and its 200 day simple moving average is $9.11. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating 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 company had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. During the same quarter last year, the company posted ($1.02) EPS. The company's revenue for the quarter was up 310.3% compared to the same quarter last year. As a group, equities analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCUS has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.14.

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.