Thrivent Financial for Lutherans Increases Stock Position in Arcus Biosciences, Inc. $RCUS

Thrivent Financial for Lutherans raised its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 61.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,393 shares of the company’s stock after buying an additional 30,484 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Arcus Biosciences worth $1,916,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Arcus Biosciences by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after buying an additional 1,333,421 shares during the period. Bank of America Corp DE boosted its position in Arcus Biosciences by 173.5% during the 3rd quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after buying an additional 863,162 shares during the period. Wellington Management Group LLP boosted its position in Arcus Biosciences by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock valued at $17,222,000 after buying an additional 330,268 shares during the period. Sofinnova Investments Inc. boosted its position in Arcus Biosciences by 17.2% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,216,016 shares of the company’s stock valued at $9,898,000 after buying an additional 178,240 shares during the period. Finally, Millennium Management LLC boosted its position in Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after buying an additional 270,253 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS opened at $24.17 on Wednesday. The firm has a 50 day moving average of $23.41 and a 200 day moving average of $22.58. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -7.60 and a beta of 0.87. Arcus Biosciences, Inc. has a 12-month low of $7.91 and a 12-month high of $28.72.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) 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 $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.14) earnings per share. On average, research analysts anticipate that Arcus Biosciences, Inc. will post -3.54 earnings per share for the current year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction that occurred on 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RCUS shares. Morgan Stanley raised their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Arcus Biosciences in a research note on Monday, March 2nd. The Goldman Sachs Group raised their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Truist Financial initiated coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They issued a “buy” rating and a $35.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

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.