PDT Partners LLC Reduces Stock Holdings in 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 cut its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 28.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,298 shares of the company's stock after selling 35,454 shares during the period. PDT Partners LLC owned about 0.09% of Arcus Biosciences worth $709,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RCUS. Allspring Global Investments Holdings LLC lifted its holdings in shares of Arcus Biosciences by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company's stock valued at $144,000 after purchasing an additional 6,453 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Arcus Biosciences by 18.6% in the 1st quarter. Yousif Capital Management LLC now owns 24,829 shares of the company's stock valued at $195,000 after purchasing an additional 3,893 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Arcus Biosciences by 18.4% in the 1st quarter. Amalgamated Bank now owns 18,797 shares of the company's stock valued at $148,000 after purchasing an additional 2,922 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at about $531,000. Finally, Rhumbline Advisers lifted its holdings in shares of Arcus Biosciences by 14.8% in the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company's stock valued at $1,436,000 after purchasing an additional 23,645 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Performance

NYSE RCUS traded up $0.66 on Friday, hitting $12.22. 1,103,116 shares of the company's stock were exchanged, compared to its average volume of 717,262. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50. The firm's 50-day moving average price is $9.71 and its two-hundred day moving average price is $9.12. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -3.85 and a beta of 0.83.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (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 company 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 firm posted ($1.02) EPS. The firm's quarterly revenue was up 310.3% on a year-over-year basis. On average, research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

RCUS has been the subject of several research reports. Morgan Stanley reduced their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Wells Fargo & Company dropped their price target on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.14.

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.