Y Intercept Hong Kong Ltd Invests $1.86 Million in Arcus Biosciences, Inc. $RCUS

Y Intercept Hong Kong Ltd acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 86,192 shares of the company’s stock, valued at approximately $1,862,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RCUS. Decheng Capital LLC grew its stake in Arcus Biosciences by 242.3% in the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $7,447,000 after buying an additional 387,609 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Arcus Biosciences during the 3rd quarter valued at $1,254,000. Aberdeen Group plc raised its position in shares of Arcus Biosciences by 16.0% during the 4th quarter. Aberdeen Group plc now owns 384,601 shares of the company’s stock valued at $9,165,000 after buying an additional 52,930 shares in the last quarter. Nicholas Investment Partners LP bought a new stake in shares of Arcus Biosciences during the 4th quarter worth $4,869,000. Finally, First Turn Management LLC bought a new stake in shares of Arcus Biosciences during the 4th quarter worth $13,467,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RCUS has been the topic of a number of research analyst reports. Leerink Partners set a $47.00 target price on Arcus Biosciences in a research note on Monday, April 20th. Wedbush lifted their price target on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. Truist Financial started coverage on Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 price objective for the company. The Goldman Sachs Group increased their price objective on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley raised their price objective on Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.10.

Insider Transactions at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction dated Monday, June 1st. The stock was 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 in the company, valued at approximately $1,020,002.37. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 41,756 shares of company stock worth $1,142,517. Company insiders own 9.60% of the company’s stock.

Arcus Biosciences Price Performance

RCUS stock opened at $30.03 on Friday. The firm has a market cap of $3.78 billion, a P/E ratio of -9.44 and a beta of 0.80. The firm’s fifty day moving average is $25.83 and its 200 day moving average is $23.45. Arcus Biosciences, Inc. has a 52 week low of $8.84 and a 52 week high of $31.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. During the same period in the prior year, the firm earned ($1.14) earnings per share. The business’s revenue for the quarter was down 39.3% on a year-over-year basis. Research analysts predict that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

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.