Arcus Biosciences, Inc. (NYSE:RCUS) Position Increased by Algert Global LLC

Algert Global LLC lifted its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 59.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 180,122 shares of the company’s stock after buying an additional 67,275 shares during the quarter. Algert Global LLC owned approximately 0.20% of Arcus Biosciences worth $2,682,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Boxer Capital Management LLC bought a new position in Arcus Biosciences in the fourth quarter worth about $23,857,000. PDT Partners LLC lifted its holdings in shares of Arcus Biosciences by 43.5% in the 4th quarter. PDT Partners LLC now owns 125,752 shares of the company’s stock worth $1,872,000 after purchasing an additional 38,116 shares during the last quarter. Northern Trust Corp boosted its position in Arcus Biosciences by 4.3% during the 4th quarter. Northern Trust Corp now owns 532,099 shares of the company’s stock valued at $7,923,000 after purchasing an additional 22,181 shares during the period. Voya Investment Management LLC grew its stake in Arcus Biosciences by 37.5% during the 4th quarter. Voya Investment Management LLC now owns 24,674 shares of the company’s stock worth $367,000 after buying an additional 6,733 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Arcus Biosciences in the fourth quarter worth $6,596,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Arcus Biosciences news, CEO Terry J. Rosen bought 19,800 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.18 per share, with a total value of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. The trade was a 0.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yasunori Kaneko purchased 20,000 shares of Arcus Biosciences stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the completion of the transaction, the director now directly owns 28,400 shares of the company’s stock, valued at $285,704. This represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Arcus Biosciences Trading Down 2.3 %

Arcus Biosciences stock opened at $7.93 on Thursday. The firm’s 50 day moving average price is $8.46 and its two-hundred day moving average price is $12.54. The firm has a market cap of $839.99 million, a price-to-earnings ratio of -2.52 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. Arcus Biosciences’s quarterly revenue was down 80.7% on a year-over-year basis. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research note on Wednesday. Barclays reduced their price objective on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Bank of America decreased their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $27.63.

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.