Y Intercept Hong Kong Ltd Invests $247,000 in Arcus Biosciences, Inc. (NYSE:RCUS)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment in Arcus Biosciences, Inc., acquiring 31,414 shares valued at approximately $247,000.
• Several large institutional investors have significantly increased their positions in Arcus Biosciences, leading to about 92.89% of the company's stock being held by institutions and hedge funds.
• Arcus Biosciences reported a significant drop in quarterly earnings, with an EPS of ($1.14) compared to a consensus estimate of ($1.02), alongside an 80.7% decline in revenue year-over-year.

Y Intercept Hong Kong Ltd bought a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,414 shares of the company's stock, valued at approximately $247,000.

Other institutional investors have also recently modified their holdings of the company. Gilead Sciences Inc. purchased a new stake in Arcus Biosciences in the fourth quarter worth about $447,610,000. Woodline Partners LP grew its position in shares of Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company's stock worth $52,471,000 after purchasing an additional 45,497 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Arcus Biosciences by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company's stock worth $25,348,000 after purchasing an additional 178,351 shares in the last quarter. Boxer Capital Management LLC purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth about $23,857,000. Finally, Ameriprise Financial Inc. grew its holdings in Arcus Biosciences by 17.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company's stock valued at $23,044,000 after buying an additional 228,325 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on RCUS. Morgan Stanley decreased their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Wedbush reaffirmed an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Barclays decreased their target price on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.29.

Arcus Biosciences Trading Up 0.3%

RCUS traded up $0.03 during trading on Friday, hitting $9.16. The company's stock had a trading volume of 805,025 shares, compared to its average volume of 701,151. The firm's 50 day moving average price is $9.13 and its 200-day moving average price is $9.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.37 and a quick ratio of 5.37. The stock has a market cap of $969.95 million, a PE ratio of -2.19 and a beta of 0.89. 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 released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The company's quarterly revenue was down 80.7% on a year-over-year basis. On average, analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share 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.