New York Life Investment Management LLC Trims Position in Arcus Biosciences, Inc. (NYSE:RCUS)

New York Life Investment Management LLC cut its stake in Arcus Biosciences, Inc. (NYSE:RCUSFree Report) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,520 shares of the company’s stock after selling 3,075 shares during the period. New York Life Investment Management LLC’s holdings in Arcus Biosciences were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Alpha DNA Investment Management LLC acquired a new stake in Arcus Biosciences during the 3rd quarter valued at approximately $462,000. Barclays PLC lifted its stake in Arcus Biosciences by 183.4% during the 3rd quarter. Barclays PLC now owns 470,776 shares of the company’s stock valued at $8,451,000 after acquiring an additional 304,683 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at $356,000. Arizona State Retirement System boosted its holdings in Arcus Biosciences by 10.0% during the third quarter. Arizona State Retirement System now owns 13,530 shares of the company’s stock worth $243,000 after buying an additional 1,226 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in Arcus Biosciences during the third quarter worth $494,000. 74.67% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $16.47 on Tuesday. The firm has a market cap of $1.23 billion, a PE ratio of -4.12 and a beta of 0.78. The company has a 50-day moving average of $16.91 and a two-hundred day moving average of $17.37. Arcus Biosciences, Inc. has a 1-year low of $12.95 and a 1-year high of $25.47.

Insiders Place Their Bets

In other Arcus Biosciences news, COO Jennifer Jarrett sold 21,521 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $17.76, for a total transaction of $382,212.96. Following the completion of the transaction, the chief operating officer now owns 258,878 shares of the company’s stock, valued at $4,597,673.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Robert C. Goeltz II sold 2,004 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $20.00, for a total value of $40,080.00. Following the sale, the chief financial officer now owns 51,831 shares of the company’s stock, valued at $1,036,620. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Jarrett sold 21,521 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $17.76, for a total transaction of $382,212.96. Following the completion of the sale, the chief operating officer now directly owns 258,878 shares in the company, valued at approximately $4,597,673.28. The disclosure for this sale can be found here. Insiders sold a total of 30,500 shares of company stock valued at $562,421 over the last 90 days. 13.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

RCUS has been the topic of a number of recent analyst reports. Wedbush lowered their price target on shares of Arcus Biosciences from $36.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Mizuho reduced their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Cantor Fitzgerald reduced their price objective on shares of Arcus Biosciences from $46.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, November 8th. Finally, Morgan Stanley reduced their price objective on shares of Arcus Biosciences from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, November 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

Get Our Latest Stock Analysis on Arcus Biosciences

Arcus Biosciences Company Profile

(Free Report)

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 investigational monoclonal 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.

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Institutional Ownership by Quarter for Arcus Biosciences (NYSE:RCUS)

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