Arcus Biosciences, Inc. $RCUS Shares Sold by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. trimmed its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 84.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,945 shares of the company’s stock after selling 311,125 shares during the quarter. Arcus Biosciences comprises 1.1% of Sectoral Asset Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Sectoral Asset Management Inc. owned 0.05% of Arcus Biosciences worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after acquiring an additional 881 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of 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 buying an additional 2,845 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Arcus Biosciences by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after buying an additional 482 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Arcus Biosciences in the 3rd quarter valued at approximately $69,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Arcus Biosciences in the 4th quarter valued at approximately $190,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley raised their price target on Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wedbush raised their price target on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 2nd. The Goldman Sachs Group raised their price target on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a report on Monday, March 2nd. Finally, Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $33.89.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the transaction, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.60% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $23.48 on Monday. The stock has a fifty day moving average price of $23.34 and a 200 day moving average price of $22.53. The stock has a market cap of $2.95 billion, a PE ratio of -7.38 and a beta of 0.87. Arcus Biosciences, Inc. has a 1 year low of $7.91 and a 1 year high of $28.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The firm had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.49 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.14) earnings per share. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.54 earnings per share for the current fiscal year.

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.