Parkman Healthcare Partners LLC Sells 58,160 Shares of 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 lowered its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,215,629 shares of the company's stock after selling 58,160 shares during the quarter. Parkman Healthcare Partners LLC owned about 1.15% of Arcus Biosciences worth $9,543,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its stake 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 buying an additional 270,253 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 valued at $297,000 after buying an additional 3,565 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Arcus Biosciences by 108.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 972,157 shares of the company's stock worth $7,631,000 after purchasing an additional 506,853 shares in the last quarter. Granahan Investment Management LLC grew its position in shares of Arcus Biosciences by 38.6% during the first quarter. Granahan Investment Management LLC now owns 479,590 shares of the company's stock worth $3,765,000 after purchasing an additional 133,497 shares in the last quarter. Finally, Cutter Capital Management LP purchased a new stake in shares of Arcus Biosciences during the first quarter worth about $5,745,000. Institutional investors own 92.89% of the company's stock.

Arcus Biosciences Price Performance

Shares of NYSE RCUS traded down $0.11 during mid-day trading on Tuesday, hitting $11.33. 557,252 shares of the company's stock traded hands, compared to its average volume of 747,594. The company's 50-day moving average is $9.84 and its two-hundred day moving average is $9.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50. The company has a market capitalization of $1.21 billion, a P/E ratio of -3.57 and a beta of 0.83. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98.

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

Analyst Ratings Changes

Several research firms recently issued reports on RCUS. Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company cut their target price on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.14.

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.