Gilder Gagnon Howe & Co. LLC Trims Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Gilder Gagnon Howe & Co. LLC lowered its position in Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 291,280 shares of the company’s stock after selling 1,388 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Arcus Biosciences were worth $9,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its stake in Arcus Biosciences by 10.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 43,000 shares of the company’s stock valued at $1,436,000 after buying an additional 3,900 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Arcus Biosciences by 8.0% in the first quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock valued at $251,000 after buying an additional 590 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Arcus Biosciences in the fourth quarter valued at approximately $251,000. Sectoral Asset Management Inc. lifted its stake in Arcus Biosciences by 19.5% in the first quarter. Sectoral Asset Management Inc. now owns 338,480 shares of the company’s stock valued at $10,682,000 after buying an additional 55,270 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in Arcus Biosciences by 0.4% in the fourth quarter. Woodline Partners LP now owns 1,706,425 shares of the company’s stock valued at $69,059,000 after buying an additional 7,312 shares during the last quarter. Hedge funds and other institutional investors own 72.61% of the company’s stock.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of research reports. Wedbush reduced their price objective on Arcus Biosciences from $42.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Truist Financial dropped their target price on Arcus Biosciences from $77.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, July 8th. Cantor Fitzgerald dropped their target price on Arcus Biosciences from $62.00 to $48.00 in a report on Thursday, August 4th. SVB Leerink dropped their target price on Arcus Biosciences from $66.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Finally, Citigroup dropped their target price on Arcus Biosciences from $48.00 to $40.00 in a report on Thursday, August 18th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Buy” and a consensus price target of $47.13.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $25.77 on Tuesday. Arcus Biosciences, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $49.10. The stock’s fifty day moving average is $26.61 and its two-hundred day moving average is $27.03. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 36.30 and a beta of 0.75.

Arcus Biosciences (NYSE:RCUSGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.93). Arcus Biosciences had a return on equity of 9.12% and a net margin of 16.34%. The business had revenue of $26.76 million for the quarter, compared to the consensus estimate of $21.00 million. During the same period in the prior year, the business earned ($1.09) earnings per share. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -4.13 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Carolyn C. Tang sold 1,400 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $20.72, for a total value of $29,008.00. Following the sale, the general counsel now directly owns 25,431 shares in the company, valued at $526,930.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Carolyn C. Tang sold 1,400 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $20.72, for a total transaction of $29,008.00. Following the transaction, the general counsel now directly owns 25,431 shares in the company, valued at $526,930.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Jarrett sold 6,081 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $20.72, for a total value of $125,998.32. Following the transaction, the chief operating officer now owns 125,233 shares in the company, valued at $2,594,827.76. The disclosure for this sale can be found here. Insiders have sold 14,055 shares of company stock worth $291,220 over the last three months. 12.70% of the stock is currently owned by corporate insiders.

Arcus Biosciences Company Profile

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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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