Legal & General Group Plc Takes Position in Arcus Biosciences, Inc. $RCUS

Legal & General Group Plc acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 191,560 shares of the company’s stock, valued at approximately $5,906,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Arcus Biosciences during the 2nd quarter valued at $506,113,000. Vanguard Group Inc. increased its holdings in shares of Arcus Biosciences by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after purchasing an additional 1,333,421 shares during the period. Suvretta Capital Management LLC increased its holdings in shares of Arcus Biosciences by 40.7% during the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after purchasing an additional 1,500,000 shares during the period. Wellington Management Group LLP raised its position in shares of Arcus Biosciences by 309.4% during the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after buying an additional 3,918,220 shares during the last quarter. Finally, State Street Corp raised its position in shares of Arcus Biosciences by 34.8% during the fourth quarter. State Street Corp now owns 4,576,969 shares of the company’s stock valued at $109,069,000 after buying an additional 1,182,115 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 0.6%

NYSE RCUS opened at $30.03 on Friday. Arcus Biosciences, Inc. has a 1-year low of $11.04 and a 1-year high of $31.74. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -7.70 and a beta of 0.81. The stock’s 50 day moving average is $29.23 and its two-hundred day moving average is $25.38. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. HC Wainwright boosted their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Wedbush raised their target price on Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. 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 MarketBeat.com, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Insiders Place Their Bets

In other Arcus Biosciences news, President Juan Jaen sold 48,502 shares of Arcus Biosciences stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the transaction, the president directly owned 842,307 shares of the company’s stock, valued at approximately $25,311,325.35. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction 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 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. Over the last three months, insiders have sold 102,827 shares of company stock valued at $2,994,141. Company insiders own 7.60% of the company’s stock.

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.