Aberdeen Group plc Makes New $4.42 Million Investment in Arcus Biosciences, Inc. $RCUS

Aberdeen Group plc bought a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 331,671 shares of the company’s stock, valued at approximately $4,418,000. Aberdeen Group plc owned approximately 0.31% of Arcus Biosciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RCUS. Abich Financial Wealth Management LLC acquired a new position in Arcus Biosciences in the third quarter valued at $69,000. Public Sector Pension Investment Board grew its holdings in Arcus Biosciences by 16.8% during the third quarter. Public Sector Pension Investment Board now owns 269,863 shares of the company’s stock worth $3,670,000 after acquiring an additional 38,839 shares during the period. Candriam S.C.A. acquired a new stake in shares of Arcus Biosciences in the third quarter valued at about $5,147,000. SBI Securities Co. Ltd. boosted its stake in shares of Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after acquiring an additional 2,845 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Arcus Biosciences by 9.9% in the third quarter. Arizona State Retirement System now owns 20,366 shares of the company’s stock valued at $277,000 after purchasing an additional 1,833 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCUS has been the subject of a number of recent research reports. Bank of America lifted their price objective on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. UBS Group restated a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price objective (down previously from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. Wells Fargo & Company set a $23.00 price target on shares of Arcus Biosciences and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Finally, HC Wainwright lifted their price objective on Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Insider Buying and Selling at Arcus Biosciences

In other news, General Counsel Carolyn C. Tang sold 7,658 shares of Arcus Biosciences stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $167,557.04. Following the transaction, the general counsel owned 131,544 shares of the company’s stock, valued at $2,878,182.72. The trade was a 5.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Juan C. Jaen sold 82,997 shares of Arcus Biosciences stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total value of $2,050,855.87. Following the completion of the transaction, the president owned 954,063 shares in the company, valued at $23,574,896.73. The trade was a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 265,887 shares of company stock worth $6,075,020. Company insiders own 9.60% of the company’s stock.

Arcus Biosciences Trading Down 2.6%

Arcus Biosciences stock opened at $18.98 on Friday. The firm has a 50 day simple moving average of $21.79 and a 200-day simple moving average of $18.08. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $26.40. The stock has a market capitalization of $2.05 billion, a PE ratio of -5.52 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65.

About Arcus Biosciences

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.