Baker BROS. Advisors LP Makes New $6.43 Million Investment in Arcus Biosciences, Inc. $RCUS

Key Points

• Baker BROS. Advisors LP opened a new position in Arcus Biosciences during the fourth quarter, buying 270,000 shares valued at about $6.43 million.
• Arcus has seen notable institutional interest overall, with firms like Vanguard, State Street, and Fisher Asset Management increasing their stakes; institutional investors and hedge funds now own 92.89% of the company.
• The company recently reported a quarterly EPS miss and lower-than-expected revenue, while insiders also made sales under pre-arranged trading plans; analysts still rate the stock Moderate Buy with a consensus price target of $35.10.

Baker BROS. Advisors LP acquired a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 270,000 shares of the company's stock, valued at approximately $6,434,000. Baker BROS. Advisors LP owned about 0.25% of Arcus Biosciences at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company's stock worth $189,755,000 after buying an additional 1,333,421 shares during the last quarter. State Street Corp raised its holdings in Arcus Biosciences by 34.8% during the fourth quarter. State Street Corp now owns 4,576,969 shares of the company's stock worth $109,069,000 after buying an additional 1,182,115 shares during the last quarter. Marshall Wace LLP acquired a new position in Arcus Biosciences during the fourth quarter worth $80,731,000. Siren L.L.C. raised its holdings in Arcus Biosciences by 3.3% during the fourth quarter. Siren L.L.C. now owns 3,007,077 shares of the company's stock worth $71,659,000 after buying an additional 95,000 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Arcus Biosciences by 167.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,949,788 shares of the company's stock worth $46,463,000 after buying an additional 1,220,635 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Insider Transactions at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,562 shares of the firm's stock in a transaction dated 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 owned 39,581 shares in the company, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer owned 84,161 shares of the company's stock, valued at $2,157,046.43. This trade represents a 8.45% decrease in their position. 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. Company insiders own 9.60% of the company's stock.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $24.15 on Thursday. Arcus Biosciences, Inc. has a 52-week low of $7.91 and a 52-week high of $28.72. The company has a 50-day simple moving average of $24.12 and a 200 day simple moving average of $22.89. 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 company has a market capitalization of $3.04 billion, a PE ratio of -7.59 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) 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 company had revenue of $17.00 million for the quarter, compared to analysts' expectations of $29.49 million. During the same quarter last year, the business posted ($1.14) EPS. The business's quarterly revenue was down 39.3% on a year-over-year basis. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.66 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on RCUS. Wall Street Zen downgraded shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. HC Wainwright reiterated a "buy" rating and issued a $32.00 target price on shares of Arcus Biosciences in a report on Monday, March 2nd. Citigroup increased their target price on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcus Biosciences in a report on Monday, April 20th. Finally, Lifesci Capital began coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They issued an "outperform" rating and a $46.00 target price for the company. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.10.

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.

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