Knott David M Jr Trims Stake in Arcus Biosciences, Inc. $RCUS

Knott David M Jr cut its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 33.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,241 shares of the company’s stock after selling 40,000 shares during the quarter. Arcus Biosciences makes up 1.0% of Knott David M Jr’s investment portfolio, making the stock its 23rd biggest holding. Knott David M Jr owned about 0.06% of Arcus Biosciences worth $1,755,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nicholas Investment Partners LP bought a new position in shares of Arcus Biosciences in the fourth quarter valued at $4,869,000. Aberdeen Group plc increased its position in shares of Arcus Biosciences by 16.0% during the fourth quarter. Aberdeen Group plc now owns 384,601 shares of the company’s stock worth $9,165,000 after acquiring an additional 52,930 shares in the last quarter. First Turn Management LLC acquired a new stake in shares of Arcus Biosciences in the 4th quarter worth about $13,467,000. Baker BROS. Advisors LP acquired a new stake in shares of Arcus Biosciences in the 4th quarter worth about $6,434,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Arcus Biosciences in the 1st quarter valued at about $1,862,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction dated 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 directly owned 39,581 shares in the company, valued at $1,020,002.37. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 20,067 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president directly owned 822,240 shares of the company’s stock, valued at $23,532,508.80. This represents a 2.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 110,325 shares of company stock valued at $3,174,319. Company insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RCUS shares. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research note on Monday, April 20th. Wedbush raised their target price on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. HC Wainwright upped their price target on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Finally, Lifesci Capital assumed coverage on Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Arcus Biosciences Stock Down 0.9%

RCUS stock opened at $29.71 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of -9.34 and a beta of 0.80. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $26.49 and its two-hundred day simple moving average is $23.82. Arcus Biosciences, Inc. has a 1-year low of $8.84 and a 1-year high of $31.74.

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