PFM Health Sciences LP Has $98.23 Million Stake in Arcus Biosciences, Inc. (NYSE:RCUS)

PFM Health Sciences LP decreased its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,498,260 shares of the company’s stock after selling 112,500 shares during the quarter. Arcus Biosciences comprises about 3.0% of PFM Health Sciences LP’s portfolio, making the stock its 6th largest holding. PFM Health Sciences LP owned approximately 4.93% of Arcus Biosciences worth $98,231,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Arcus Biosciences by 4.3% during the first quarter. BlackRock Inc. now owns 3,393,646 shares of the company’s stock worth $95,295,000 after acquiring an additional 138,555 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Arcus Biosciences by 35.1% during the first quarter. Victory Capital Management Inc. now owns 1,530,348 shares of the company’s stock worth $42,972,000 after acquiring an additional 397,786 shares during the last quarter. Woodline Partners LP bought a new position in shares of Arcus Biosciences during the first quarter worth $34,755,000. Franklin Resources Inc. lifted its position in Arcus Biosciences by 8.9% during the first quarter. Franklin Resources Inc. now owns 794,822 shares of the company’s stock valued at $22,319,000 after purchasing an additional 64,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Arcus Biosciences by 10.1% during the first quarter. Geode Capital Management LLC now owns 711,522 shares of the company’s stock valued at $19,979,000 after purchasing an additional 65,431 shares during the last quarter. Hedge funds and other institutional investors own 56.33% of the company’s stock.

In other news, COO Jennifer Jarrett sold 1,044 shares of the firm’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $24.91, for a total value of $26,006.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yasunori Kaneko purchased 4,133 shares of the stock in a transaction dated Friday, April 23rd. The stock was purchased at an average price of $31.37 per share, for a total transaction of $129,652.21. Following the completion of the acquisition, the director now directly owns 6,717 shares in the company, valued at approximately $210,712.29. The disclosure for this purchase can be found here. Company insiders own 19.71% of the company’s stock.

Several research firms have commented on RCUS. SVB Leerink set a $28.40 price objective on shares of Arcus Biosciences and gave the company a “buy” rating in a research report on Wednesday, July 14th. Zacks Investment Research lowered shares of Arcus Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 11th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $48.49.

RCUS stock traded up $0.66 during trading on Thursday, hitting $32.38. The company had a trading volume of 5,557 shares, compared to its average volume of 1,026,953. Arcus Biosciences, Inc. has a 52-week low of $16.69 and a 52-week high of $42.36. The firm has a 50 day moving average of $26.47.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, May 4th. The company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.22). The company had revenue of $9.46 million during the quarter, compared to analysts’ expectations of $18.80 million. Arcus Biosciences had a negative return on equity of 31.34% and a negative net margin of 196.76%. As a group, analysts predict that Arcus Biosciences, Inc. will post -2.73 earnings per share for the current fiscal year.

Arcus Biosciences Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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Institutional Ownership by Quarter for Arcus Biosciences (NYSE:RCUS)

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