Y Intercept Hong Kong Ltd Buys Shares of 31,414 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 purchased a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,414 shares of the company's stock, valued at approximately $247,000.

Several other institutional investors have also recently made changes to their positions in the company. Gilead Sciences Inc. purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth about $447,610,000. Woodline Partners LP boosted its holdings 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 during the period. Dimensional Fund Advisors LP boosted its holdings 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 during the period. 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. boosted its holdings in shares of Arcus Biosciences by 17.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company's stock worth $23,044,000 after purchasing an additional 228,325 shares during the period. Institutional investors own 92.89% of the company's stock.

Arcus Biosciences Stock Performance

Arcus Biosciences stock traded up $0.03 during mid-day trading on Friday, reaching $9.16. 805,025 shares of the company traded hands, compared to its average volume of 701,151. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.37 and a quick ratio of 5.37. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The company has a market capitalization of $969.95 million, a price-to-earnings ratio of -2.19 and a beta of 0.89. The firm's fifty day moving average is $9.13 and its two-hundred day moving average is $9.60.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. Arcus Biosciences had a negative net margin of 258.94% and a negative return on equity of 70.58%. The firm's quarterly revenue was down 80.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on RCUS. Wells Fargo & Company lowered their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group lowered their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Barclays decreased their price target on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wedbush restated an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Arcus Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $21.29.

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.