Mirae Asset Global Investments Co. Ltd. Sells 855 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,654 shares of the company’s stock after selling 855 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arcus Biosciences were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Alps Advisors Inc. lifted its stake in Arcus Biosciences by 2.3% in the third quarter. Alps Advisors Inc. now owns 54,951 shares of the company’s stock valued at $986,000 after buying an additional 1,214 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arcus Biosciences by 10.0% in the third quarter. Arizona State Retirement System now owns 13,530 shares of the company’s stock worth $243,000 after purchasing an additional 1,226 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Arcus Biosciences by 0.4% in the third quarter. Principal Financial Group Inc. now owns 329,442 shares of the company’s stock worth $5,913,000 after purchasing an additional 1,312 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of Arcus Biosciences in the third quarter worth $28,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Arcus Biosciences by 13.6% in the third quarter. Teacher Retirement System of Texas now owns 13,496 shares of the company’s stock worth $242,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RCUS. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday, February 22nd. Mizuho cut their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Finally, Truist Financial reissued a “buy” rating and issued a $50.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.25.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 3,900 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the transaction, the president now directly owns 1,211,365 shares in the company, valued at $24,299,981.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, President Juan C. Jaen sold 3,900 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the sale, the president now owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of Arcus Biosciences stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $21.00 per share, with a total value of $319,999,995.00. Following the transaction, the insider now owns 30,061,124 shares of the company’s stock, valued at approximately $631,283,604. The disclosure for this purchase can be found here. Insiders have sold a total of 53,455 shares of company stock worth $1,014,779 over the last ninety days. Insiders own 13.80% of the company’s stock.

Arcus Biosciences Price Performance

NYSE:RCUS opened at $14.73 on Friday. Arcus Biosciences, Inc. has a one year low of $12.95 and a one year high of $25.47. The company has a market cap of $1.34 billion, a P/E ratio of -3.55 and a beta of 0.81. The firm’s fifty day moving average price is $17.51 and its two-hundred day moving average price is $16.62.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.01. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The firm had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. During the same period in the previous year, the company earned ($0.93) earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Arcus Biosciences, Inc. will post -3.59 earnings per share for the current 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.