Parkman Healthcare Partners LLC Has $9.54 Million Stock Holdings in Arcus Biosciences, Inc. $RCUS

Key Points

• Parkman Healthcare Partners LLC reduced its holdings in Arcus Biosciences by 4.6%, now owning 1,215,629 shares worth approximately $9.54 million.
• Wall Street has shown mixed sentiments, with analysts upgrading the stock from "strong sell" to "hold," while also lowering price targets from $26 to $25 by Wells Fargo and from $24 to $22 by Morgan Stanley.
• Arcus Biosciences reported a significant revenue increase of 310.3% year-over-year, despite a negative EPS of ($1.11) in its latest quarter, outperforming analyst expectations.

Parkman Healthcare Partners LLC trimmed its holdings in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,215,629 shares of the company's stock after selling 58,160 shares during the period. Parkman Healthcare Partners LLC owned about 1.15% of Arcus Biosciences worth $9,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Millennium Management LLC lifted its holdings in shares of Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company's stock valued at $9,378,000 after purchasing an additional 270,253 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arcus Biosciences by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company's stock worth $297,000 after purchasing an additional 3,565 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Arcus Biosciences by 108.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 972,157 shares of the company's stock worth $7,631,000 after buying an additional 506,853 shares during the period. Granahan Investment Management LLC lifted its stake in Arcus Biosciences by 38.6% in the first quarter. Granahan Investment Management LLC now owns 479,590 shares of the company's stock valued at $3,765,000 after buying an additional 133,497 shares in the last quarter. Finally, Cutter Capital Management LP bought a new position in Arcus Biosciences in the first quarter valued at approximately $5,745,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Arcus Biosciences Stock Down 1.8%

Shares of RCUS traded down $0.22 during mid-day trading on Thursday, hitting $11.51. 735,007 shares of the company's stock were exchanged, compared to its average volume of 1,004,702. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98. The company has a market cap of $1.22 billion, a PE ratio of -3.63 and a beta of 0.83. The company has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $9.15.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, topping analysts' consensus estimates of ($1.14) by $0.03. The business had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The firm's revenue for the quarter was up 310.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RCUS shares. Wells Fargo & Company lowered their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research 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 note on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.14.

About Arcus Biosciences

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.