Corient Private Wealth LP Invests $1.82 Million in Arcus Biosciences, Inc. $RCUS

Corient Private Wealth LP bought a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 59,134 shares of the company's stock, valued at approximately $1,823,000.

Several other hedge funds have also bought and sold shares of RCUS. Hantz Financial Services Inc. increased its stake in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company's stock valued at $38,000 after purchasing an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at about $39,000. KBC Group NV acquired a new position in shares of Arcus Biosciences during the first quarter valued at about $50,000. Strs Ohio bought a new stake in shares of Arcus Biosciences during the first quarter worth about $67,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Arcus Biosciences by 184.2% during the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company's stock worth $69,000 after acquiring an additional 5,476 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley set a $23.00 price target on shares of Arcus Biosciences in a research report on Monday, August 10th. HC Wainwright boosted their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Wells Fargo & Company increased their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Truist Financial started coverage on Arcus Biosciences in a report on Monday, May 18th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $42.00 target price on shares of Arcus Biosciences in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.80.

Insider Activity

In other news, CAO Alexander Azoy sold 2,827 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the transaction, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the transaction, the president owned 822,240 shares in the company, valued at $23,532,508.80. The trade was a 2.38% 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. In the last quarter, insiders sold 102,827 shares of company stock valued at $2,994,141. Company insiders own 7.60% of the company's stock.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $30.03 on Friday. The company has a fifty day moving average price of $29.23 and a 200-day moving average price of $25.38. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -7.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. Arcus Biosciences, Inc. has a 1 year low of $11.04 and a 1 year high of $31.74.

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

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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