First Turn Management LLC Acquires Shares of 565,142 Arcus Biosciences, Inc. $RCUS

Key Points

• First Turn Management LLC disclosed a new stake in Arcus Biosciences, buying 565,142 shares worth about $13.5 million. The position represents roughly 1.5% of its portfolio and about 0.52% of Arcus’s outstanding shares.
• Arcus Biosciences stock was up 2.4% to $23.85, with a market cap of about $3.0 billion. The company remains volatile, trading well below its 52-week high of $28.72 but above its 52-week low of $7.91.
• The biotech company reported a larger-than-expected loss and weaker revenue in its latest quarter, and analysts remain mixed but lean bullish overall. The consensus rating is Moderate Buy with an average price target of $35.10, though recent insider sales by the CFO and CAO may add caution.

First Turn Management LLC acquired a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 565,142 shares of the company's stock, valued at approximately $13,467,000. Arcus Biosciences comprises about 1.5% of First Turn Management LLC's investment portfolio, making the stock its 29th biggest holding. First Turn Management LLC owned approximately 0.52% of Arcus Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Decheng Capital LLC lifted its holdings in Arcus Biosciences by 242.3% during the third quarter. Decheng Capital LLC now owns 547,609 shares of the company's stock valued at $7,447,000 after purchasing an additional 387,609 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Arcus Biosciences during the third quarter valued at about $1,254,000. Vanguard Group Inc. lifted its holdings in Arcus Biosciences by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company's stock valued at $90,161,000 after purchasing an additional 73,210 shares during the last quarter. Aberdeen Group plc purchased a new stake in Arcus Biosciences during the third quarter valued at about $4,418,000. Finally, Fisher Asset Management LLC lifted its holdings in Arcus Biosciences by 727.1% during the third quarter. Fisher Asset Management LLC now owns 729,153 shares of the company's stock valued at $9,916,000 after purchasing an additional 640,990 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Up 2.4%

Shares of RCUS opened at $23.85 on Friday. The business's 50-day moving average price is $24.05 and its 200-day moving average price is $22.92. Arcus Biosciences, Inc. has a twelve month low of $7.91 and a twelve month high of $28.72. The stock has a market cap of $3.00 billion, a PE ratio of -7.50 and a beta of 0.85. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19.

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 for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The company had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.49 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The firm's revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.14) earnings per share. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Lifesci Capital assumed coverage on Arcus Biosciences in a research report on Thursday, June 4th. They set an "outperform" rating and a $46.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcus Biosciences in a research report on Monday, April 20th. HC Wainwright reiterated a "buy" rating and set a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research report on Monday, April 20th. Finally, Wedbush upped their price target on Arcus Biosciences from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.10.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the transaction, the chief financial officer directly owned 84,161 shares in the company, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is currently owned by corporate insiders.

Arcus Biosciences Company Profile

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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