Illinois Municipal Retirement Fund Makes New Investment in Arcus Biosciences, Inc. $RCUS

Illinois Municipal Retirement Fund bought a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,233 shares of the company’s stock, valued at approximately $783,000.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Arcus Biosciences by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after buying an additional 482 shares in the last quarter. Creative Planning boosted its stake in Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after acquiring an additional 771 shares during the last quarter. Hantz Financial Services Inc. grew 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 worth $38,000 after acquiring an additional 881 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Arcus Biosciences by 1.1% during the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after acquiring an additional 1,000 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Arcus Biosciences by 5.7% in the 4th quarter. LPL Financial LLC now owns 24,211 shares of the company’s stock worth $577,000 after purchasing an additional 1,302 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Stock Down 0.9%

RCUS stock opened at $29.71 on Friday. The firm has a market cap of $3.74 billion, a PE ratio of -9.34 and a beta of 0.80. Arcus Biosciences, Inc. has a 12 month low of $8.84 and a 12 month high of $31.74. 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 50 day simple moving average of $26.49 and a 200 day simple moving average of $23.82.

Arcus Biosciences (NYSE:RCUS) last released 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 analysts’ expectations of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.14) EPS. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the transaction, the chief financial officer directly owned 84,161 shares in the company, valued at $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing 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. Also, CAO Alexander Azoy sold 2,562 shares of the stock in a transaction on 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 directly owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 110,325 shares of company stock valued at $3,174,319. Corporate insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

RCUS has been the topic of several research reports. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wedbush lifted their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Lifesci Capital began coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price for the company. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a report on Monday, April 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and an average target price of $36.40.

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.