Candriam S.C.A. Takes $5.15 Million Position in Arcus Biosciences, Inc. $RCUS

Candriam S.C.A. acquired a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 378,441 shares of the company’s stock, valued at approximately $5,147,000. Candriam S.C.A. owned 0.35% of Arcus Biosciences at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RCUS. Goldman Sachs Group Inc. boosted its stake in Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after purchasing an additional 470,755 shares in the last quarter. PDT Partners LLC boosted its holdings in Arcus Biosciences by 331.1% during the second quarter. PDT Partners LLC now owns 389,287 shares of the company’s stock worth $3,169,000 after buying an additional 298,989 shares in the last quarter. Millennium Management LLC grew its position in Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after buying an additional 270,253 shares during the last quarter. Bank of America Corp DE raised its position in shares of Arcus Biosciences by 97.8% during the second quarter. Bank of America Corp DE now owns 497,619 shares of the company’s stock worth $4,051,000 after purchasing an additional 246,048 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Arcus Biosciences by 14.9% during the second quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock valued at $12,995,000 after purchasing an additional 207,097 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Stock Up 2.8%

RCUS stock opened at $21.37 on Thursday. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $26.40. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -6.21 and a beta of 0.84. The company has a 50 day moving average of $22.58 and a two-hundred day moving average of $17.65.

Insider Transactions at Arcus Biosciences

In other news, CEO Terry J. Rosen sold 28,947 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total transaction of $633,360.36. Following the completion of the sale, the chief executive officer directly owned 2,220,553 shares of the company’s stock, valued at $48,585,699.64. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Juan C. Jaen sold 82,997 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $24.71, for a total value of $2,050,855.87. Following the completion of the sale, the president directly owned 954,063 shares of the company’s stock, valued at approximately $23,574,896.73. The trade was a 8.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 315,887 shares of company stock valued at $7,087,692. 9.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wedbush set a $35.00 price target on Arcus Biosciences and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Bank of America lifted their target price on shares of Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. The Goldman Sachs Group upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $28.00 in a research report on Monday, January 12th. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price objective (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Arcus Biosciences 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.