Arcus Biosciences, Inc. $RCUS Shares Sold by Decheng Capital LLC

Decheng Capital LLC cut its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,819 shares of the company’s stock after selling 63,740 shares during the period. Arcus Biosciences makes up 1.6% of Decheng Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Decheng Capital LLC’s holdings in Arcus Biosciences were worth $10,321,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Arcus Biosciences by 309.4% during the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after buying an additional 3,918,220 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Arcus Biosciences during the 4th quarter worth about $80,731,000. Suvretta Capital Management LLC increased its holdings in shares of Arcus Biosciences by 40.7% during the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after acquiring an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Arcus Biosciences in the 4th quarter valued at approximately $35,380,000. Finally, Vanguard Group Inc. raised its stake in shares of Arcus Biosciences by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after acquiring an additional 1,333,421 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Trading Up 1.4%

Arcus Biosciences stock opened at $29.88 on Thursday. Arcus Biosciences, Inc. has a 52 week low of $8.84 and a 52 week high of $31.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market capitalization of $3.76 billion, a PE ratio of -9.40 and a beta of 0.80. The business’s 50-day simple moving average is $26.40 and its 200-day simple moving average is $23.77.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results 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). The business had revenue of $17.00 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. 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 year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RCUS. Morgan Stanley upped their target price on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wedbush boosted their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. HC Wainwright upped their price objective on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Finally, Truist Financial started coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.40.

Insiders Place Their Bets

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 that occurred 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 $1,020,002.37. This represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 110,325 shares of company stock valued at $3,174,319 in the last three months. Company insiders own 7.60% of the company’s stock.

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.