Innealta Capital LLC Purchases Shares of 4,338 Arcus Biosciences, Inc. (NYSE:RCUS)

Innealta Capital LLC acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,338 shares of the company’s stock, valued at approximately $66,000.

Several other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Arcus Biosciences by 26.3% during the first quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock valued at $4,892,000 after purchasing an additional 53,944 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Arcus Biosciences by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Arcus Biosciences by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock worth $30,459,000 after buying an additional 158,094 shares during the last quarter. Decheng Capital LLC acquired a new stake in Arcus Biosciences during the fourth quarter worth about $16,613,000. Finally, SG Americas Securities LLC raised its position in Arcus Biosciences by 1,396.1% during the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after acquiring an additional 120,650 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on RCUS shares. Citigroup upped their price objective on Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Barclays dropped their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Truist Financial dropped their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Arcus Biosciences in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Buy” and an average target price of $34.13.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $17.11 on Friday. The business has a 50 day simple moving average of $15.50 and a two-hundred day simple moving average of $16.38. The stock has a market capitalization of $1.56 billion, a P/E ratio of -5.50 and a beta of 0.90. Arcus Biosciences, Inc. has a 12 month low of $12.95 and a 12 month high of $22.68.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million during the quarter, compared to the consensus estimate of $26.24 million. During the same period in the prior year, the company earned ($1.04) EPS. The firm’s revenue was up 34.5% compared to the same quarter last year. As a group, research analysts anticipate that Arcus Biosciences, Inc. will post -3.09 EPS for the current fiscal year.

Arcus Biosciences Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.