Connor Clark & Lunn Investment Management Ltd. Takes Position in Arcus Biosciences, Inc. $RCUS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 225,008 shares of the company’s stock, valued at approximately $6,937,000.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. acquired a new stake in Arcus Biosciences during the 2nd quarter worth approximately $506,113,000. Vanguard Group Inc. lifted its stake in Arcus Biosciences by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after buying an additional 1,333,421 shares in the last quarter. Suvretta Capital Management LLC boosted its holdings in shares of Arcus Biosciences by 40.7% in the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after buying an additional 1,500,000 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after buying an additional 3,918,220 shares during the period. Finally, State Street Corp boosted its holdings in shares of Arcus Biosciences by 34.8% in the fourth quarter. State Street Corp now owns 4,576,969 shares of the company’s stock valued at $109,069,000 after buying an additional 1,182,115 shares during the period. 92.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RCUS shares. The Goldman Sachs Group restated a “buy” rating and set a $42.00 price objective on shares of Arcus Biosciences in a report on Friday, August 7th. Wells Fargo & Company boosted their price objective on shares of Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Morgan Stanley set a $23.00 target price on shares of Arcus Biosciences in a research note on Monday, August 10th. Truist Financial began coverage on Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. 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 company’s stock. According to data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Arcus Biosciences Trading Down 2.1%

NYSE:RCUS opened at $30.91 on Thursday. Arcus Biosciences, Inc. has a twelve month low of $10.25 and a twelve month high of $31.74. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $28.91 and a two-hundred day moving average price of $24.99. The company has a market cap of $3.94 billion, a P/E ratio of -7.93 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) 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 the consensus estimate of $21.98 million. The firm’s revenue for the quarter was down 74.4% compared to the same quarter last year. As a group, analysts expect that Arcus Biosciences, Inc. will post -3.6 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the business’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 sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. This trade represents a 5.44% 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 have sold 105,389 shares of company stock valued at $3,060,164 in the last 90 days. 7.60% of the stock is currently owned by corporate insiders.

Arcus Biosciences Company 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.