Mirae Asset Global Investments Co. Ltd. Sells 855 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,654 shares of the company’s stock after selling 855 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arcus Biosciences were worth $585,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RCUS. Citigroup Inc. raised its stake in shares of Arcus Biosciences by 20.8% during the 3rd quarter. Citigroup Inc. now owns 145,729 shares of the company’s stock worth $2,616,000 after purchasing an additional 25,083 shares during the period. Vanguard Group Inc. raised its stake in shares of Arcus Biosciences by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock worth $80,664,000 after purchasing an additional 61,040 shares during the period. Trexquant Investment LP bought a new stake in shares of Arcus Biosciences during the 3rd quarter worth $1,412,000. Seven Eight Capital LP bought a new stake in shares of Arcus Biosciences during the 3rd quarter worth $292,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Arcus Biosciences during the 3rd quarter worth $686,000. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RCUS shares. Mizuho decreased their price objective on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, February 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $50.00 price objective on shares of Arcus Biosciences in a report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.25.

Insider Activity

In other Arcus Biosciences news, major shareholder Gilead Sciences, Inc. purchased 15,238,095 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $21.00 per share, for a total transaction of $319,999,995.00. Following the transaction, the insider now owns 30,061,124 shares in the company, valued at approximately $631,283,604. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.06, for a total transaction of $78,234.00. Following the completion of the sale, the president now owns 1,211,365 shares in the company, valued at approximately $24,299,981.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the transaction, the insider now directly owns 30,061,124 shares in the company, valued at $631,283,604. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 53,455 shares of company stock worth $1,014,779. 13.80% of the stock is currently owned by insiders.

Arcus Biosciences Stock Down 4.5 %

RCUS stock opened at $14.73 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.55 and a beta of 0.81. Arcus Biosciences, Inc. has a twelve month low of $12.95 and a twelve month high of $25.47. The stock has a 50-day simple moving average of $17.51 and a two-hundred day simple moving average of $16.62.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.01. The business had revenue of $31.00 million during the quarter, compared to analyst estimates of $28.30 million. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.93) EPS. On average, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.59 EPS 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. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.