Wellington Management Group LLP cut its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,895,448 shares of the company's stock after selling 194,068 shares during the quarter. Wellington Management Group LLP owned approximately 4.63% of Arcus Biosciences worth $181,757,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Arcus Biosciences during the 2nd quarter valued at approximately $506,113,000. Marshall Wace LLP bought a new position in Arcus Biosciences in the 4th quarter worth approximately $80,731,000. Suvretta Capital Management LLC grew its stake in Arcus Biosciences by 40.7% in the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company's stock valued at $123,650,000 after buying an additional 1,500,000 shares in the last quarter. Toronto Dominion Bank bought a new stake in Arcus Biosciences during the 4th quarter valued at $35,380,000. Finally, Vanguard Group Inc. raised its holdings in Arcus Biosciences by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company's stock valued at $189,755,000 after acquiring an additional 1,333,421 shares during the period. Institutional investors own 92.89% of the company's stock.
Insiders Place Their Bets
In other news, President Juan C. Jaen sold 48,502 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total value of $1,457,485.10. Following the transaction, the president owned 842,307 shares of the company's stock, valued at $25,311,325.35. This represents a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares in the company, valued at approximately $1,187,430. This trade represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 102,827 shares of company stock worth $2,994,141 in the last three months. Insiders own 7.60% of the company's stock.
Arcus Biosciences Stock Performance
Shares of RCUS opened at $29.26 on Tuesday. Arcus Biosciences, Inc. has a 12-month low of $10.40 and a 12-month high of $31.74. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.73 billion, a PE ratio of -7.50 and a beta of 0.80. The stock has a 50-day moving average price of $29.18 and a 200-day moving average price of $25.17.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company had revenue of $41.00 million for the quarter, compared to analysts' expectations of $21.98 million. Arcus Biosciences's revenue for the quarter was down 74.4% on a year-over-year basis. As a group, equities analysts forecast that Arcus Biosciences, Inc. will post -3.6 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently commented on RCUS shares. Wall Street Zen lowered Arcus Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Truist Financial started coverage on Arcus Biosciences in a research note on Monday, May 18th. They set a "buy" rating and a $35.00 price objective on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th. Lifesci Capital began coverage on Arcus Biosciences in a report on Thursday, June 4th. They set an "outperform" rating and a $46.00 target price for the company. Finally, HC Wainwright lifted their target price on Arcus Biosciences from $32.00 to $45.00 and gave the company a "buy" rating in a report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.80.
Read Our Latest Analysis on RCUS
Arcus Biosciences Profile
(
Free Report)
Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company's research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.
The company's lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.
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