Y Intercept Hong Kong Ltd Has $137,000 Stake in Arcus Biosciences, Inc. $RCUS

Y Intercept Hong Kong Ltd lowered its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 46.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,794 shares of the company’s stock after selling 14,620 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Arcus Biosciences were worth $137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Arcus Biosciences by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company’s stock worth $144,000 after buying an additional 6,453 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after acquiring an additional 470,755 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Arcus Biosciences by 14.8% during the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock worth $1,436,000 after acquiring an additional 23,645 shares during the last quarter. Woodline Partners LP raised its stake in Arcus Biosciences by 45.5% in the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after acquiring an additional 1,603,367 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Arcus Biosciences by 17.1% during the 2nd quarter. Nordea Investment Management AB now owns 319,899 shares of the company’s stock valued at $2,633,000 after purchasing an additional 46,776 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Insider Buying and Selling

In other Arcus Biosciences news, COO Jennifer Jarrett sold 37,792 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total transaction of $568,769.60. Following the completion of the transaction, the chief operating officer directly owned 214,232 shares in the company, valued at $3,224,191.60. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Alexander Azoy sold 2,831 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $13.00, for a total value of $36,803.00. Following the sale, the chief accounting officer owned 27,363 shares of the company’s stock, valued at $355,719. The trade was a 9.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,875 shares of company stock valued at $3,004,591. 9.60% of the stock is owned by insiders.

Arcus Biosciences Stock Down 1.3%

Shares of RCUS opened at $19.31 on Monday. 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 12 month low of $6.50 and a 12 month high of $22.11. The firm’s 50 day moving average is $14.87 and its 200-day moving average is $11.19. The stock has a market capitalization of $2.08 billion, a PE ratio of -5.61 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The business had revenue of $26.00 million during the quarter, compared to analysts’ expectations of $19.89 million. During the same period in the previous year, the company posted ($1.00) earnings per share. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on RCUS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. HC Wainwright raised their price objective on shares of Arcus Biosciences from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, Truist Financial reiterated a “buy” rating and set a $39.00 target price (up previously from $32.00) on shares of Arcus Biosciences in a research note on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences has a consensus rating of “Moderate Buy” and an average target price of $28.44.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.