Nicholas Investment Partners LP Purchases Shares of 204,338 Arcus Biosciences, Inc. $RCUS

Nicholas Investment Partners LP purchased a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 204,338 shares of the company’s stock, valued at approximately $4,869,000. Nicholas Investment Partners LP owned about 0.19% of Arcus Biosciences at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Arcus Biosciences by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after purchasing an additional 482 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Arcus Biosciences during the 3rd quarter valued at $69,000. Bayforest Capital Ltd acquired a new stake in Arcus Biosciences during the 4th quarter valued at $190,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Arcus Biosciences by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock valued at $69,000 after purchasing an additional 5,476 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insider Activity

In related news, CAO Alexander Azoy sold 2,562 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at $2,157,046.43. This represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. 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 2.4%

Shares of Arcus Biosciences stock opened at $23.85 on Friday. The firm has a 50-day moving average of $24.05 and a 200-day moving average of $22.92. The stock has a market cap of $3.00 billion, a PE ratio of -7.50 and a beta of 0.85. Arcus Biosciences, Inc. has a 52-week low of $7.91 and a 52-week high of $28.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The company’s revenue was down 39.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.14) EPS. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial assumed coverage on Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of Arcus Biosciences in a research report on Monday, March 2nd. Morgan Stanley boosted their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Wedbush boosted their target price on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.10.

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.