VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Arcus Biosciences, Inc. $RCUS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,200 shares of the company’s stock, valued at approximately $295,000.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in Arcus Biosciences by 233.6% during the second quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after acquiring an additional 3,810 shares in the last quarter. Strs Ohio purchased a new position in Arcus Biosciences during the first quarter worth about $67,000. E Fund Management Co. Ltd. purchased a new position in Arcus Biosciences during the first quarter worth about $82,000. Knott David M Jr purchased a new position in Arcus Biosciences during the first quarter worth about $94,000. Finally, Oregon Public Employees Retirement Fund grew its position in Arcus Biosciences by 21.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company’s stock worth $121,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insider Transactions at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,831 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $13.00, for a total value of $36,803.00. Following the completion of the sale, the chief accounting officer owned 27,363 shares of the company’s stock, valued at approximately $355,719. The trade was a 9.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer Jarrett sold 37,792 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total value of $568,769.60. Following the completion of the sale, the chief operating officer directly owned 214,232 shares of the company’s stock, valued at approximately $3,224,191.60. This trade represents a 15.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,702 shares of company stock valued at $806,081. 9.60% of the stock is currently owned by corporate insiders.

Arcus Biosciences Trading Up 3.2%

Shares of RCUS opened at $17.32 on Monday. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -5.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The firm has a 50 day moving average price of $13.01 and a 200-day moving average price of $10.34.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. The firm had revenue of $160.00 million during the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The business’s quarterly revenue was up 310.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.02) EPS. As a group, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

RCUS has been the subject of several recent analyst reports. Citigroup boosted their target price on Arcus Biosciences from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Wall Street Zen raised shares of Arcus Biosciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Truist Financial reissued a “buy” rating and issued a $39.00 price target (up previously from $32.00) on shares of Arcus Biosciences in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.22.

About Arcus Biosciences

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.