Deutsche Bank AG Invests $2.92 Million in Arcus Biosciences, Inc. $RCUS

Key Points

• Deutsche Bank acquired 94,710 Arcus Biosciences shares worth approximately $2.92 million during the second quarter, while institutional investors collectively own 92.89% of the company.
• Analyst sentiment is generally positive: Arcus has a consensus “Moderate Buy” rating and a $37.80 price target, with recent targets ranging from $26 to $43.
• Arcus reported a better-than-expected quarterly loss of $0.72 per share and $41 million in revenue, though revenue declined 74.4% year over year and insiders sold $3.06 million of stock over the past three months.

Deutsche Bank AG bought a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 94,710 shares of the company's stock, valued at approximately $2,920,000. Deutsche Bank AG owned approximately 0.08% of Arcus Biosciences at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company's stock worth $123,547,000 after acquiring an additional 3,918,220 shares in the last quarter. Marshall Wace LLP purchased a new position in Arcus Biosciences in the fourth quarter valued at about $80,731,000. Suvretta Capital Management LLC grew its stake in Arcus Biosciences by 40.7% in the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company's stock valued at $123,650,000 after purchasing an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank bought a new position in Arcus Biosciences in the fourth quarter worth about $35,380,000. Finally, Vanguard Group Inc. raised its holdings in Arcus Biosciences by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company's stock worth $189,755,000 after purchasing an additional 1,333,421 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $42.00 price target on shares of Arcus Biosciences in a report on Friday, August 7th. Wells Fargo & Company boosted their price objective on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Finally, Wedbush lifted their price target on shares of Arcus Biosciences from $41.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $30.91 on Thursday. The company has a 50 day moving average price of $28.91 and a 200 day moving average price of $24.99. The firm has a market capitalization of $3.94 billion, a P/E ratio of -7.93 and a beta of 0.80. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. Arcus Biosciences, Inc. has a 52 week low of $10.25 and a 52 week high of $31.74.

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

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at approximately $1,187,430. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. This trade represents a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,389 shares of company stock worth $3,060,164 over the last three months. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source