Louisiana State Employees Retirement System Invests $812,000 in Arcus Biosciences, Inc. $RCUS

Key Points

• Louisiana State Employees Retirement System opened a new position in Arcus Biosciences, buying 37,600 shares worth about $812,000 in the first quarter.
• Arcus Biosciences shares were trading around $30.42, near their 12-month high of $31.74, while the company remains unprofitable with recent quarterly EPS of ($1.02) and revenue below analyst expectations.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus rating with an average price target of $35.10, even as some firms recently downgraded the name to sell.

Louisiana State Employees Retirement System purchased a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 37,600 shares of the company's stock, valued at approximately $812,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in shares of Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company's stock worth $38,000 after buying an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Arcus Biosciences during the fourth quarter worth about $39,000. Strs Ohio bought a new position in Arcus Biosciences during the first quarter worth about $67,000. Tower Research Capital LLC TRC raised its stake in Arcus Biosciences by 184.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company's stock worth $69,000 after purchasing an additional 5,476 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Arcus Biosciences by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company's stock worth $77,000 after purchasing an additional 482 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Trading Up 0.3%

Shares of Arcus Biosciences stock opened at $30.42 on Monday. 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, Inc. has a 12-month low of $8.03 and a 12-month high of $31.74. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -9.57 and a beta of 0.80. The firm's 50-day moving average price is $25.42 and its two-hundred day moving average price is $23.22.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. During the same quarter in the previous year, the firm posted ($1.14) earnings per share. Arcus Biosciences's quarterly revenue was down 39.3% compared to the same quarter last year. On average, analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wedbush raised their target price on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an "outperform" rating in a report on Thursday, April 2nd. Truist Financial assumed coverage on Arcus Biosciences in a research note on Monday, May 18th. They issued a "buy" rating and a $35.00 price target for the company. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research report on Monday, April 20th. Wall Street Zen lowered Arcus Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.10.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the transaction, the chief financial officer owned 84,161 shares in the company, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their position. The sale 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, CAO Alexander Azoy sold 2,562 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at $1,020,002.37. This trade represents a 6.08% 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. Insiders have sold 41,756 shares of company stock valued at $1,142,517 over the last three months. 9.60% of the stock is owned by insiders.

Arcus Biosciences 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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