Louisiana State Employees Retirement System Buys Shares of 37,600 Arcus Biosciences, Inc. $RCUS

Louisiana State Employees Retirement System acquired a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 37,600 shares of the company’s stock, valued at approximately $812,000.

Other large investors have also added to or reduced their stakes in the company. Decheng Capital LLC increased its position in Arcus Biosciences by 242.3% during the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after purchasing an additional 387,609 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Arcus Biosciences in the 3rd quarter worth approximately $1,254,000. Aberdeen Group plc boosted its stake in shares of Arcus Biosciences by 16.0% in the 4th quarter. Aberdeen Group plc now owns 384,601 shares of the company’s stock valued at $9,165,000 after purchasing an additional 52,930 shares during the last quarter. Nicholas Investment Partners LP bought a new stake in shares of Arcus Biosciences in the 4th quarter valued at $4,869,000. Finally, First Turn Management LLC acquired a new stake in shares of Arcus Biosciences during the fourth quarter worth $13,467,000. Institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

RCUS has been the subject of a number of analyst reports. Truist Financial began coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Wall Street Zen cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley increased their price target on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Leerink Partners set a $47.00 price objective on Arcus Biosciences in a research report on Monday, April 20th. Finally, Wedbush boosted their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $30.42 on Monday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -9.57 and a beta of 0.80. Arcus Biosciences, Inc. has a 52 week low of $8.03 and a 52 week high of $31.74. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $25.42 and a 200-day moving average of $23.22.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The company had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. During the same quarter in the prior year, the firm earned ($1.14) EPS. The business’s revenue was down 39.3% compared to the same quarter last year. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.77, for a total value 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. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the transaction, the chief financial officer owned 84,161 shares in the company, valued at $2,157,046.43. This represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 41,756 shares of company stock worth $1,142,517. 9.60% of the stock is currently owned by company insiders.

Arcus Biosciences Company 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.