Man Group plc Takes $4.25 Million Position in Arcus Biosciences, Inc. $RCUS

Man Group plc acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 137,763 shares of the company’s stock, valued at approximately $4,247,000.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Arcus Biosciences by 253.9% during the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after buying an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Arcus Biosciences by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after buying an additional 3,565 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after buying an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Arcus Biosciences by 106.2% in the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after buying an additional 470,755 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Arcus Biosciences in the first quarter valued at $67,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 0.2%

RCUS stock opened at $29.27 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $3.73 billion, a P/E ratio of -7.51 and a beta of 0.80. Arcus Biosciences, Inc. has a 52-week low of $10.40 and a 52-week high of $31.74. The company’s 50 day simple moving average is $29.14 and its 200-day simple moving average is $25.11.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The firm had revenue of $41.00 million during the quarter, compared to analyst estimates of $21.98 million. The business’s quarterly revenue was down 74.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.6 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 20,067 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value 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 trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 102,827 shares of company stock valued at $2,994,141 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RCUS. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a report on Monday, August 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price target on shares of Arcus Biosciences in a research report on Friday, August 7th. Finally, Lifesci Capital started coverage on Arcus Biosciences in a research note on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target on the stock. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

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.