Arcus Biosciences, Inc. $RCUS Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lessened its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 29.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,649 shares of the company’s stock after selling 29,041 shares during the period. Rafferty Asset Management LLC owned 0.06% of Arcus Biosciences worth $947,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank raised its position in shares of Arcus Biosciences by 3.9% during the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $266,000 after purchasing an additional 736 shares during the last quarter. GAMMA Investing LLC increased its position in Arcus Biosciences by 59.1% during the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after buying an additional 1,021 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Arcus Biosciences by 8.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,398 shares of the company’s stock worth $142,000 after acquiring an additional 1,294 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock worth $57,000 after acquiring an additional 1,796 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Arcus Biosciences by 9.9% in the third quarter. Arizona State Retirement System now owns 20,366 shares of the company’s stock valued at $277,000 after acquiring an additional 1,833 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Down 0.4%

RCUS stock opened at $22.12 on Friday. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -6.70 and a beta of 0.85. The business has a fifty day simple moving average of $21.52 and a 200-day simple moving average of $18.88. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $26.40.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. The firm had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.03) earnings per share. On average, equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 6,552 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total transaction of $153,185.76. Following the transaction, the chief financial officer directly owned 67,924 shares of the company’s stock, valued at $1,588,063.12. The trade was a 8.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Richard Markus sold 4,494 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total transaction of $99,587.04. Following the completion of the sale, the insider directly owned 65,647 shares of the company’s stock, valued at $1,454,737.52. The trade was a 6.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 180,990 shares of company stock worth $3,974,764. Company insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

RCUS has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 2nd. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, January 21st. Finally, Bank of America increased their price target on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and an average price target of $30.20.

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.