Trexquant Investment LP Has $1.69 Million Stock Position in Arcus Biosciences, Inc. $RCUS

Key Points

• Trexquant Investment LP has reduced its stake in Arcus Biosciences by 28.3%, selling 85,182 shares and holding 215,366 shares worth approximately $1.69 million.
• Other institutional investors made significant changes to their holdings, with Allspring Global Investments increasing their stake by 54.0%, reflecting growing interest in the company.
• Arcus Biosciences recently reported impressive earnings, generating $160 million in revenue for the quarter, a 310.3% increase year-over-year, despite a reported loss per share.

Trexquant Investment LP reduced its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 215,366 shares of the company's stock after selling 85,182 shares during the quarter. Trexquant Investment LP owned approximately 0.20% of Arcus Biosciences worth $1,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Arcus Biosciences by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company's stock worth $144,000 after buying an additional 6,453 shares during the last quarter. Yousif Capital Management LLC lifted its position in Arcus Biosciences by 18.6% during the 1st quarter. Yousif Capital Management LLC now owns 24,829 shares of the company's stock worth $195,000 after acquiring an additional 3,893 shares during the last quarter. Amalgamated Bank lifted its position in Arcus Biosciences by 18.4% during the 1st quarter. Amalgamated Bank now owns 18,797 shares of the company's stock worth $148,000 after acquiring an additional 2,922 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Arcus Biosciences during the 4th quarter worth $531,000. Finally, Rhumbline Advisers lifted its position in Arcus Biosciences by 14.8% during the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company's stock worth $1,436,000 after acquiring an additional 23,645 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS traded down $0.09 during trading hours on Wednesday, reaching $11.23. The stock had a trading volume of 120,124 shares, compared to its average volume of 1,001,436. The business's fifty 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 cap of $1.20 billion, a price-to-earnings ratio of -3.53 and a beta of 0.82. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $18.98.

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 (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 company had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. During the same quarter in the prior year, the company posted ($1.02) EPS. The business's revenue was up 310.3% on a year-over-year basis. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in 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 cut their price target on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company 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.