Arcus Biosciences, Inc. (NYSE:RCUS) Stock Position Raised by Panagora Asset Management Inc.

Posted by Defense World Staff on Jun 10th, 2023

Panagora Asset Management Inc. lifted its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,600 shares of the company’s stock after acquiring an additional 13,466 shares during the quarter. Panagora Asset Management Inc. owned 0.27% of Arcus Biosciences worth $4,086,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Arcus Biosciences by 9.9% during the 3rd quarter. BlackRock Inc. now owns 8,928,228 shares of the company’s stock worth $233,559,000 after acquiring an additional 805,534 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Arcus Biosciences in the fourth quarter worth $657,000. HRT Financial LP acquired a new stake in shares of Arcus Biosciences in the fourth quarter worth $2,581,000. Endurant Capital Management LP boosted its position in shares of Arcus Biosciences by 50.3% in the third quarter. Endurant Capital Management LP now owns 97,327 shares of the company’s stock worth $2,546,000 after buying an additional 32,571 shares during the period. Finally, AXQ Capital LP acquired a new stake in shares of Arcus Biosciences in the fourth quarter worth $238,000. 72.97% of the stock is owned by institutional investors.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $21.10 on Friday. Arcus Biosciences, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $36.13. The stock’s 50-day moving average is $18.93 and its two-hundred day moving average is $20.84.

Arcus Biosciences (NYSE:RCUS – Get Rating) last posted its earnings results on Tuesday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.03). Arcus Biosciences had a negative net margin of 233.41% and a negative return on equity of 41.22%. The company had revenue of $25.00 million for the quarter, compared to the consensus estimate of $22.47 million. During the same quarter last year, the business earned ($0.96) earnings per share. Arcus Biosciences’s quarterly revenue was up 38.9% on a year-over-year basis. On average, equities research analysts expect that Arcus Biosciences, Inc. will post -4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TheStreet cut Arcus Biosciences from a “c-” rating to a “d” rating in a research report on Tuesday, February 28th. Citigroup lifted their price objective on Arcus Biosciences from $40.00 to $41.00 in a research report on Friday, May 26th. Finally, Mizuho reissued a “buy” rating and set a $51.00 price objective on shares of Arcus Biosciences in a research report on Friday, March 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.44.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, COO Jennifer Jarrett sold 8,729 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $16.81, for a total transaction of $146,734.49. Following the transaction, the chief operating officer now directly owns 406,217 shares in the company, valued at $6,828,507.77. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 13.80% of the company’s stock.

Arcus Biosciences Company Profile

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Arcus Biosciences, Inc engages in the development and commercialization of immunotherapies. It competes in the segments of the pharmaceutical, biotechnology and other related markets that develop immunotherapies for the treatment of cancer. The company was founded by Terry J. Rosen and Juan Carlos Jaen in 2015 and is headquartered in Hayward, CA.