Y Intercept Hong Kong Ltd Takes Position in Arcus Biosciences, Inc. $RCUS

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Arcus Biosciences in Q1, buying 86,192 shares worth about $1.86 million and representing 0.07% of the company.
• Institutional ownership remains very high, with hedge funds and other investors holding 92.89% of Arcus Biosciences. Several firms recently increased their stakes, including Invesco and Rockefeller Capital Management.
• Arcus Biosciences posted a weaker-than-expected quarter, with EPS of -$1.02 and revenue of $17 million, missing Wall Street estimates. Despite the miss, analysts still see a generally positive outlook, with a consensus rating of Moderate Buy and an average price target of $35.10.

Y Intercept Hong Kong Ltd purchased a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 86,192 shares of the company's stock, valued at approximately $1,862,000. Y Intercept Hong Kong Ltd owned 0.07% of Arcus Biosciences as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in Arcus Biosciences in the 1st quarter valued at about $812,000. Rockefeller Capital Management L.P. boosted its position in Arcus Biosciences by 217.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,224 shares of the company's stock worth $291,000 after purchasing an additional 8,368 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in Arcus Biosciences during the fourth quarter worth about $39,000. Invesco Ltd. increased its stake in shares of Arcus Biosciences by 41.7% in the fourth quarter. Invesco Ltd. now owns 414,365 shares of the company's stock worth $9,874,000 after purchasing an additional 121,961 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its stake in shares of Arcus Biosciences by 34.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,855 shares of the company's stock worth $831,000 after purchasing an additional 8,886 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. The Goldman Sachs Group lifted their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a report on Monday, April 20th. Truist Financial assumed coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They set a "buy" rating and a $35.00 target price on the stock. Finally, Wedbush increased their target price on Arcus Biosciences from $37.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $35.10.

Arcus Biosciences Trading Down 0.8%

Shares of RCUS opened at $30.03 on Friday. The business's 50-day moving average price is $25.83 and its 200-day moving average price is $23.45. Arcus Biosciences, Inc. has a twelve month low of $8.84 and a twelve month high of $31.74. The stock has a market cap of $3.78 billion, a PE ratio of -9.44 and a beta of 0.80. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.10). The firm had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences's revenue was down 39.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.14) earnings per share. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Alexander Azoy sold 2,562 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.77, for a total value of $66,022.74. Following the transaction, the chief accounting officer owned 39,581 shares of the company's stock, valued at approximately $1,020,002.37. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 6,431 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $29.66, for a total transaction of $190,743.46. Following the completion of the transaction, the president directly owned 890,809 shares in the company, valued at approximately $26,421,394.94. The trade was a 0.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,756 shares of company stock worth $1,142,517 in the last three months. 9.60% of the stock is currently owned by corporate insiders.

About Arcus Biosciences

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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