PDT Partners LLC Buys New Stake in Arcus Biosciences, Inc. $RCUS

PDT Partners LLC bought a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 323,567 shares of the company’s stock, valued at approximately $9,976,000. PDT Partners LLC owned about 0.25% of Arcus Biosciences as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Arcus Biosciences by 10.0% in the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after acquiring an additional 359 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after acquiring an additional 607 shares during the last quarter. Creative Planning increased its position in Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after purchasing an additional 771 shares in the last quarter. Hantz Financial Services Inc. increased its position in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Arcus Biosciences by 1.1% in the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock valued at $2,203,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

RCUS has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price objective on shares of Arcus Biosciences in a research report on Friday, August 7th. Lifesci Capital began coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Eight research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 48,502 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,389 shares of company stock worth $3,060,164 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $31.42 on Wednesday. Arcus Biosciences, Inc. has a one year low of $10.07 and a one year high of $31.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. The company has a 50 day moving average price of $28.78 and a 200 day moving average price of $24.91. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -8.06 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company had revenue of $41.00 million for the quarter, compared to analyst estimates of $21.98 million. The company’s revenue for the quarter was down 74.4% on a year-over-year basis. Sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.53 EPS for the current year.

Arcus Biosciences Profile

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.