Hudson Bay Capital Management LP Has $4.62 Million Stake in Arcus Biosciences, Inc. $RCUS

Hudson Bay Capital Management LP reduced its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 20.9% in the 3rd quarter, Holdings Channel reports. The fund owned 340,000 shares of the company’s stock after selling 90,000 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Arcus Biosciences were worth $4,624,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Amalgamated Bank increased its stake in Arcus Biosciences by 3.9% during the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $266,000 after purchasing an additional 736 shares in the last quarter. Creative Planning boosted its holdings in shares of Arcus Biosciences by 2.7% in the third quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after buying an additional 771 shares during the period. GAMMA Investing LLC increased its position in shares of Arcus Biosciences by 59.1% during the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after acquiring an additional 1,021 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Arcus Biosciences by 8.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,398 shares of the company’s stock worth $142,000 after acquiring an additional 1,294 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in Arcus Biosciences by 34.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after acquiring an additional 1,796 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 3.3%

NYSE:RCUS opened at $21.69 on Friday. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $26.40. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -6.57 and a beta of 0.85. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $21.56 and its two-hundred day moving average price is $19.80.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.22. The company had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.03) EPS. Equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RCUS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Leerink Partners lifted their target price on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Bank of America upped their price target on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a research note on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 6,552 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total value of $153,185.76. Following the completion of the sale, the chief financial officer owned 67,924 shares in the company, valued at $1,588,063.12. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Juan C. Jaen sold 31,823 shares of Arcus Biosciences stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $21.41, for a total transaction of $681,330.43. Following the completion of the transaction, the president directly owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

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.