Mach 1 Financial Group LLC Increases Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Mach 1 Financial Group LLC increased its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,314 shares of the company’s stock after buying an additional 2,540 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Arcus Biosciences were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCUS. AE Wealth Management LLC acquired a new stake in Arcus Biosciences during the 3rd quarter worth about $410,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Arcus Biosciences by 20.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,732 shares of the company’s stock worth $246,000 after acquiring an additional 2,289 shares during the period. BluePath Capital Management LLC acquired a new stake in Arcus Biosciences during the 3rd quarter worth about $28,000. Strs Ohio acquired a new stake in Arcus Biosciences during the 3rd quarter worth about $43,000. Finally, Panagora Asset Management Inc. lifted its position in Arcus Biosciences by 2.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 99,299 shares of the company’s stock worth $1,782,000 after acquiring an additional 2,107 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Up 1.8 %

RCUS stock traded up $0.27 during midday trading on Wednesday, hitting $15.50. 41,178 shares of the company’s stock were exchanged, compared to its average volume of 785,000. The business has a 50-day simple moving average of $17.46 and a two-hundred day simple moving average of $16.61. The stock has a market capitalization of $1.41 billion, a PE ratio of -3.75 and a beta of 0.81. Arcus Biosciences, Inc. has a 1-year low of $12.95 and a 1-year high of $25.47.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.01. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The business had revenue of $31.00 million during the quarter, compared to analyst estimates of $28.30 million. During the same period last year, the business posted ($0.93) earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3.59 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 24,555 shares of Arcus Biosciences stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.07, for a total value of $492,818.85. Following the completion of the transaction, the chief operating officer now directly owns 274,323 shares in the company, valued at $5,505,662.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arcus Biosciences news, COO Jennifer Jarrett sold 24,555 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.07, for a total value of $492,818.85. Following the sale, the chief operating officer now directly owns 274,323 shares in the company, valued at $5,505,662.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Juan C. Jaen sold 3,900 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the sale, the president now owns 1,211,365 shares in the company, valued at $24,299,981.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,455 shares of company stock worth $1,014,779. Company insiders own 13.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $50.00 price objective on shares of Arcus Biosciences in a report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Thursday, February 22nd. Finally, Mizuho reduced their price target on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Arcus Biosciences 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.