Walleye Capital LLC Makes New Investment in Arcus Biosciences, Inc. $RCUS

Key Points

• Walleye Capital LLC established a $428,000 position in Arcus Biosciences, acquiring 54,582 shares in the first quarter, representing 0.05% of the company's stock at that time.
• Arcus Biosciences reported a significant revenue increase of 310.3% year-over-year, with quarterly earnings of $160 million, exceeding estimates.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $21.14, reflecting a mix of optimistic and cautious outlooks from various research firms.

Walleye Capital LLC purchased a new stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,582 shares of the company's stock, valued at approximately $428,000. Walleye Capital LLC owned approximately 0.05% of Arcus Biosciences as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock worth $506,000 after acquiring an additional 833 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Arcus Biosciences by 10.9% in the first quarter. Maryland State Retirement & Pension System now owns 20,202 shares of the company's stock worth $159,000 after purchasing an additional 1,986 shares during the period. MetLife Investment Management LLC raised its stake in Arcus Biosciences by 8.1% in the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company's stock valued at $499,000 after purchasing an additional 2,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arcus Biosciences by 7.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,748 shares of the company's stock worth $281,000 after purchasing an additional 2,524 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in Arcus Biosciences by 21.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock worth $121,000 after buying an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company reduced their target price on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Morgan Stanley lowered their price target on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.14.

Arcus Biosciences Trading Up 5.7%

NYSE RCUS traded up $0.66 on Friday, reaching $12.22. The company had a trading volume of 1,103,116 shares, compared to its average volume of 717,262. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -3.85 and a beta of 0.83. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The business has a 50 day moving average of $9.71 and a two-hundred day moving average of $9.14. 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 (NYSE:RCUS - Get Free Report) last posted 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 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%.The firm's quarterly revenue was up 310.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.02) earnings per share. Analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

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.