Arcus Biosciences, Inc. $RCUS Stock Position Trimmed by NEOS Investment Management LLC

NEOS Investment Management LLC trimmed its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 49.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,293 shares of the company’s stock after selling 29,369 shares during the period. NEOS Investment Management LLC’s holdings in Arcus Biosciences were worth $412,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Arcus Biosciences by 59.1% during the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after buying an additional 1,021 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Arcus Biosciences by 13,547.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after acquiring an additional 2,845 shares during the period. CWM LLC raised its stake in Arcus Biosciences by 233.6% during the 2nd 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. Ameritas Investment Partners Inc. raised its stake in Arcus Biosciences by 34.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after acquiring an additional 1,796 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Arcus Biosciences by 440.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company’s stock worth $62,000 after acquiring an additional 6,191 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on RCUS shares. Wedbush set a $35.00 price target on Arcus Biosciences and gave the company an “outperform” rating in a report on Wednesday, October 29th. UBS Group reissued a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Morgan Stanley restated an “equal weight” rating and set a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a report on Friday, December 12th. Finally, HC Wainwright raised their price objective on shares of Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.33.

Insider Activity

In other Arcus Biosciences news, insider Richard Markus sold 4,494 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total value of $99,587.04. Following the transaction, the insider owned 65,647 shares in the company, valued at approximately $1,454,737.52. The trade was a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Juan C. Jaen sold 31,823 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.41, for a total value of $681,330.43. Following the completion of the transaction, the president directly owned 922,240 shares in the company, valued at $19,745,158.40. This represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 265,887 shares of company stock valued at $6,075,020 in the last ninety days. 9.60% of the stock is owned by company insiders.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $18.98 on Friday. The company has a 50-day moving average of $21.79 and a 200-day moving average of $18.14. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -5.52 and a beta of 0.84. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $26.40.

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.