Bank of New York Mellon Corp Invests $16.74 Million in Arcus Biosciences, Inc. $RCUS

Bank of New York Mellon Corp bought a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 543,009 shares of the company's stock, valued at approximately $16,741,000. Bank of New York Mellon Corp owned 0.43% of Arcus Biosciences as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Arcus Biosciences by 253.9% in the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company's stock valued at $714,000 after purchasing an additional 65,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arcus Biosciences by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company's stock worth $297,000 after acquiring an additional 3,565 shares during the period. Millennium Management LLC grew its holdings in shares of Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company's stock worth $9,378,000 after purchasing an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company's stock worth $7,177,000 after purchasing an additional 470,755 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Arcus Biosciences during the first quarter valued at approximately $67,000. 92.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RCUS shares. Truist Financial initiated coverage on Arcus Biosciences in a research report on Monday, May 18th. They issued a "buy" rating and a $35.00 target price for the company. Morgan Stanley set a $23.00 price objective on shares of Arcus Biosciences in a research note on Monday, August 10th. Wells Fargo & Company lifted their target price on shares of Arcus Biosciences from $23.00 to $26.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Lifesci Capital started coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They issued an "outperform" rating and a $46.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Eight investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.80.

Arcus Biosciences Trading Up 0.2%

Shares of NYSE RCUS opened at $29.26 on Tuesday. Arcus Biosciences, Inc. has a 1-year low of $10.40 and a 1-year high of $31.74. The company has a market cap of $3.73 billion, a PE ratio of -7.50 and a beta of 0.80. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $29.18 and a two-hundred day moving average of $25.17.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.17. The business had revenue of $41.00 million for the quarter, compared to analysts' expectations of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. Arcus Biosciences's revenue for the quarter was down 74.4% compared to the same quarter last year. As a group, equities analysts expect that Arcus Biosciences, Inc. will post -3.6 earnings per share for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 20,067 shares of the firm's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the completion of the transaction, the president directly owned 822,240 shares in the company, valued at $23,532,508.80. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 102,827 shares of company stock valued at $2,994,141. Corporate insiders own 7.60% of the company's stock.

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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