RA Capital Management L.P. Purchases New Position in Arcus Biosciences, Inc. $RCUS

Key Points

• RA Capital Management L.P. purchased 1,136,364 shares of Arcus Biosciences valued at approximately $8.92 million, giving them about 1.07% ownership of the company.
• Arcus Biosciences reported a revenue increase of 310.3% year-over-year, totaling $160 million for the latest quarter, although it also had a negative earnings per share of ($1.11).
• Several institutional investors, including Gilead Sciences and Vanguard Group, have increased their stakes in Arcus Biosciences, with 92.89% of the stock currently held by hedge funds and institutional investors.

RA Capital Management L.P. acquired a new stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,136,364 shares of the company's stock, valued at approximately $8,920,000. RA Capital Management L.P. owned approximately 1.07% of Arcus Biosciences as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC raised its stake in shares of Arcus Biosciences by 3,321.3% in the 4th 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. E Fund Management Co. Ltd. bought a new position in Arcus Biosciences in the 1st quarter worth approximately $82,000. Knott David M Jr bought a new position in Arcus Biosciences in the 1st quarter worth approximately $94,000. Exchange Traded Concepts LLC increased its position in Arcus Biosciences by 40.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock worth $109,000 after buying an additional 4,013 shares during the period. Finally, Brevan Howard Capital Management LP increased its position in Arcus Biosciences by 38.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 14,279 shares of the company's stock worth $213,000 after buying an additional 3,957 shares during the period. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS traded up $0.66 during trading on Friday, hitting $12.22. 1,103,116 shares of the stock were exchanged, compared to its average volume of 717,262. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.85 and a beta of 0.83. The company's fifty day simple moving average is $9.71 and its 200-day simple moving average is $9.14. 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 (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.03. The company had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.Arcus Biosciences's revenue for the quarter was up 310.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.02) EPS. Sell-side analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen raised Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price target on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Morgan Stanley dropped their price target on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average 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.