Arcus Biosciences, Inc. $RCUS Shares Bought by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC increased its stake in Arcus Biosciences by 38.6%, acquiring an additional 133,497 shares during the first quarter, now holding 479,590 shares valued at approximately $3.77 million.
• Arcus Biosciences reported a 310.3% year-over-year increase in quarterly revenue, totaling $160 million, despite a negative earnings per share of ($1.11).
• Brokerages have varied outlooks on Arcus Biosciences, with Morgan Stanley and Wells Fargo adjusting price targets and ratings, resulting in a consensus rating of "Moderate Buy" and an average target price of $21.14.

Granahan Investment Management LLC lifted its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 38.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,590 shares of the company's stock after acquiring an additional 133,497 shares during the quarter. Granahan Investment Management LLC owned 0.45% of Arcus Biosciences worth $3,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RCUS. E Fund Management Co. Ltd. bought a new stake in shares of Arcus Biosciences in the first quarter valued at about $82,000. Lazard Asset Management LLC raised its holdings in shares of Arcus Biosciences by 3,321.3% in the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock valued at $93,000 after acquiring an additional 6,078 shares in the last quarter. Knott David M Jr bought a new stake in shares of Arcus Biosciences in the first quarter valued at about $94,000. Exchange Traded Concepts LLC raised its holdings in shares of Arcus Biosciences by 40.5% in the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock valued at $109,000 after acquiring an additional 4,013 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Arcus Biosciences by 21.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock valued at $121,000 after acquiring an additional 2,700 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.14.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock traded down $0.04 on Thursday, hitting $11.69. The company's stock had a trading volume of 170,754 shares, compared to its average volume of 1,001,361. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. The firm has a fifty day moving average price of $9.90 and a 200-day moving average price of $9.15. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.69 and a beta of 0.83.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.03. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The firm had revenue of $160.00 million for the quarter, compared to analysts' expectations of $32.86 million. During the same quarter last year, the company earned ($1.02) EPS. The firm's revenue for the quarter was up 310.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.