On April 10, 2023 at 10:52:22 ET an unusually large $64.60K block of Call contracts in Arcus Biosciences (RCUS) was bought, with a strike price of $20.00 / share, expiring in 39 days (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was ? sigmas above the mean, placing it in the percentile of all recent large trades made in RCUS options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 151.08% Upside
As of April 6, 2023, the average one-year price target for Arcus Biosciences is $44.12. The forecasts range from a low of $23.23 to a high of $73.50. The average price target represents an increase of 151.08% from its latest reported closing price of $17.57.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Arcus Biosciences is $104MM, a decrease of 7.20%. The projected annual non-GAAP EPS is -$4.75.
What is the Fund Sentiment?
There are 483 funds or institutions reporting positions in Arcus Biosciences. This is an increase of 35 owner(s) or 7.81% in the last quarter. Average portfolio weight of all funds dedicated to RCUS is 0.19%, a decrease of 18.52%. Total shares owned by institutions increased in the last three months by 4.43% to 59,291K shares. The put/call ratio of RCUS is 0.58, indicating a bullish outlook.
What are Large Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 3,877K shares representing 5.31% ownership of the company. In it’s prior filing, the firm reported owning 3,803K shares, representing an increase of 1.90%. The firm decreased its portfolio allocation in RCUS by 26.69% over the last quarter.
FBIOX – Biotechnology Portfolio holds 3,193K shares representing 4.37% ownership of the company. No change in the last quarter.
PFM Health Sciences holds 2,703K shares representing 3.70% ownership of the company. In it’s prior filing, the firm reported owning 3,383K shares, representing a decrease of 25.15%. The firm decreased its portfolio allocation in RCUS by 37.49% over the last quarter.
Octagon Capital Advisors holds 2,483K shares representing 3.40% ownership of the company. In it’s prior filing, the firm reported owning 2,668K shares, representing a decrease of 7.48%. The firm decreased its portfolio allocation in RCUS by 33.64% over the last quarter.
Bvf holds 2,304K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 2,717K shares, representing a decrease of 17.95%. The firm decreased its portfolio allocation in RCUS by 31.53% over the last quarter.
Arcus Biosciences Background Information
(This description is provided by the company.)
Arcus Biosciences is an oncology-focused biopharmaceutical company leveraging its deep cross-disciplinary expertise to discover highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet needs. Arcus currently has four molecules in clinical development: Etrumadenant (AB928), the first dual A2a/A2b adenosine receptor antagonist to enter the clinic, is being evaluated in multiple Phase 2 and 1b studies across different indications, including prostate, colorectal, non-small cell lung, pancreatic and triple-negative breast cancers. AB680, the first small-molecule CD73 inhibitor to enter the clinic, is in Phase 1/1b development for first-line treatment of metastatic pancreatic cancer in combination with zimberelimab and gemcitabine/nab-paclitaxel. Domvanalimab (AB154), an anti-TIGIT monoclonal antibody and new potential immuno-oncology backbone therapy, is in a three-arm randomized Phase 2 study for first-line treatment of PD-L1- 1.
This article originally appeared on Fintel
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