Arcus Biosciences, Inc. $RCUS Stock Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 18.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 536,823 shares of the company’s stock after selling 125,158 shares during the period. Candriam S.C.A.’s holdings in Arcus Biosciences were worth $13,917,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Arcus Biosciences in the second quarter valued at approximately $16,741,000. Legal & General Group Plc bought a new stake in Arcus Biosciences in the second quarter worth approximately $5,906,000. BlackRock Inc. bought a new stake in Arcus Biosciences in the second quarter worth approximately $506,113,000. Corient Private Wealth LP bought a new stake in Arcus Biosciences in the second quarter worth approximately $1,823,000. Finally, Jupiter Topco LLC acquired a new position in shares of Arcus Biosciences during the 2nd quarter worth $1,306,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of recent research reports. William Blair initiated coverage on shares of Arcus Biosciences in a report on Friday, October 16th. They set an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Thursday, October 15th. Morgan Stanley set a $23.00 price objective on shares of Arcus Biosciences in a report on Monday, August 10th. Wells Fargo & Company increased their target price on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Arcus Biosciences in a research report on Wednesday, October 14th. They set an “overweight” rating and a $41.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $39.36.

Insider Buying and Selling at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,827 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

Arcus Biosciences Stock Up 3.4%

RCUS opened at $18.90 on Tuesday. The firm has a market cap of $2.41 billion, a P/E ratio of -5.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. The business has a 50 day moving average price of $23.54 and a 200 day moving average price of $24.52. Arcus Biosciences, Inc. has a twelve month low of $17.43 and a twelve month high of $31.74.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.11). Arcus Biosciences had a negative net margin of 453.00% and a negative return on equity of 83.94%. The company had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. During the same quarter last year, the business earned ($1.27) EPS. The company’s revenue for the quarter was down 65.4% on a year-over-year basis. Research analysts forecast that Arcus Biosciences, Inc. will post -3.57 EPS for the current year.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Founded in 2015 and headquartered in Hayward, California, the company researches therapies that target immune pathways and other processes involved in tumor growth.

Its pipeline consists of investigational medicines, including antibody and small-molecule candidates designed to be used alone or in combination. Arcus’s research has focused on areas such as checkpoint inhibition and the adenosine pathway; its candidates are under clinical development and are not established treatments.

Arcus works with Gilead Sciences on the development of oncology medicines, extending its work through a major biopharmaceutical collaboration.