Fisher Asset Management LLC Acquires 640,990 Shares of Arcus Biosciences, Inc. $RCUS

Fisher Asset Management LLC raised its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 727.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 729,153 shares of the company’s stock after purchasing an additional 640,990 shares during the period. Fisher Asset Management LLC owned 0.68% of Arcus Biosciences worth $9,916,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Arcus Biosciences by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock valued at $90,161,000 after purchasing an additional 73,210 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Arcus Biosciences by 14.9% during the second quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock worth $12,995,000 after buying an additional 207,097 shares during the period. Sofinnova Investments Inc. boosted its position in Arcus Biosciences by 17.2% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,216,016 shares of the company’s stock valued at $9,898,000 after acquiring an additional 178,240 shares in the last quarter. Millennium Management LLC boosted its position in Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after acquiring an additional 270,253 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arcus Biosciences by 106.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after acquiring an additional 470,755 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $22.65 on Thursday. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $26.40. The company has a market cap of $2.84 billion, a PE ratio of -6.86 and a beta of 0.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36. The business has a 50-day simple moving average of $21.56 and a two-hundred day simple moving average of $18.77.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.22. The firm had revenue of $33.00 million during the quarter, compared to analyst estimates of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. Arcus Biosciences’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm posted ($1.03) EPS. As a group, equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jennifer Jarrett sold 11,225 shares of Arcus Biosciences stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $245,603.00. Following the completion of the sale, the chief operating officer directly owned 203,007 shares in the company, valued at approximately $4,441,793.16. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert C. Goeltz II sold 6,702 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $146,639.76. Following the completion of the transaction, the chief financial officer directly owned 80,436 shares in the company, valued at approximately $1,759,939.68. The trade was a 7.69% 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 180,990 shares of company stock valued at $3,974,764. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Leerink Partners upped their price objective on Arcus Biosciences from $36.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. UBS Group restated a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research report on Monday. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.30.

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.