Renaissance Technologies LLC Has $9.17 Million Stake in Arcus Biosciences, Inc. $RCUS

Renaissance Technologies LLC grew its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 1,198.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 424,700 shares of the company’s stock after acquiring an additional 392,000 shares during the period. Renaissance Technologies LLC’s holdings in Arcus Biosciences were worth $9,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. lifted its holdings in shares of Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after acquiring an additional 881 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Arcus Biosciences in the 4th quarter valued at $39,000. KBC Group NV acquired a new position in Arcus Biosciences during the 1st quarter valued at about $50,000. Bayforest Capital Ltd bought a new position in Arcus Biosciences in the fourth quarter valued at approximately $190,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Arcus Biosciences by 184.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after purchasing an additional 5,476 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on RCUS shares. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Lifesci Capital initiated coverage on shares of Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price objective on the stock. Morgan Stanley upped their target price on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. HC Wainwright lifted their price objective on shares of Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $28.18 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. Arcus Biosciences, Inc. has a one year low of $8.84 and a one year high of $31.74. The firm has a market cap of $3.54 billion, a PE ratio of -8.86 and a beta of 0.80. The stock’s fifty day moving average price is $27.00 and its two-hundred day moving average price is $24.07.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share 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 the consensus estimate of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company’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 company earned ($1.14) EPS. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcus Biosciences news, President Juan C. Jaen sold 20,067 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total value of $574,317.54. Following the sale, the president owned 822,240 shares in the company, valued at $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,020,002.37. This represents a 6.08% decrease in their position. 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 sold a total of 110,325 shares of company stock worth $3,174,319 in the last ninety days. 7.60% of the stock is owned by insiders.

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.