Legato Capital Management LLC Acquires New Position in Arcus Biosciences, Inc. $RCUS

Legato Capital Management LLC acquired a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,055 shares of the company’s stock, valued at approximately $621,000.

A number of other hedge funds have also recently modified their holdings of RCUS. AQR Capital Management LLC grew its holdings in shares of Arcus Biosciences by 253.9% in the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arcus Biosciences by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock valued at $297,000 after purchasing an additional 3,565 shares during the period. Millennium Management LLC grew its holdings in shares of Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after purchasing an additional 270,253 shares during the period. Goldman Sachs Group Inc. boosted its stake in Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares during the period. Finally, Strs Ohio purchased a new position in Arcus Biosciences during the first quarter worth about $67,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Morgan Stanley increased their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group increased their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.89.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Trading Up 3.2%

Shares of RCUS stock opened at $24.17 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market cap of $3.04 billion, a PE ratio of -7.60 and a beta of 0.87. The company has a 50-day moving average of $23.41 and a two-hundred day moving average of $22.58. Arcus Biosciences, Inc. has a 1-year low of $7.91 and a 1-year high of $28.72.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results 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 business 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 firm’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 posted ($1.14) EPS. On average, analysts predict that Arcus Biosciences, Inc. will post -3.54 EPS for the current 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.