42,338 Shares in Arcus Biosciences, Inc. $RCUS Acquired by Jupiter Topco LLC

Jupiter Topco LLC purchased a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 42,338 shares of the company’s stock, valued at approximately $1,306,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PDT Partners LLC purchased a new stake in Arcus Biosciences in the 2nd quarter valued at $9,976,000. Parkman Healthcare Partners LLC purchased a new position in Arcus Biosciences during the 2nd quarter worth $28,341,000. Legal & General Group Plc acquired a new position in Arcus Biosciences in the second quarter valued at $5,906,000. The Manufacturers Life Insurance Company acquired a new position in Arcus Biosciences in the second quarter valued at $1,413,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Arcus Biosciences in the second quarter valued at about $6,937,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Lifesci Capital began coverage on Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective for the company. Wedbush increased their price objective on Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 target price on shares of Arcus Biosciences in a report on Friday, August 7th. Eight 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.80.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $29.67 on Friday. Arcus Biosciences, Inc. has a 1 year low of $11.04 and a 1 year high of $31.74. The company’s 50 day simple moving average is $29.21 and its 200 day simple moving average is $25.41. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -7.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. The business’s revenue for the quarter was down 74.4% compared to the same quarter last year. On average, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.6 EPS for the current year.

Insider Buying and Selling at Arcus Biosciences

In related news, President Juan C. Jaen sold 20,067 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the completion of the sale, the president directly owned 822,240 shares of the company’s stock, valued at approximately $23,532,508.80. This represents a 2.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 102,827 shares of company stock valued at $2,994,141 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Arcus Biosciences Company 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.