Hudson Bay Capital Management LP Sells 5,000 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Hudson Bay Capital Management LP decreased its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,000 shares of the company’s stock after selling 5,000 shares during the period. Hudson Bay Capital Management LP owned 0.19% of Arcus Biosciences worth $2,531,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RCUS. JPMorgan Chase & Co. lifted its stake in Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares during the last quarter. R Squared Ltd bought a new stake in Arcus Biosciences in the fourth quarter worth about $26,000. Teacher Retirement System of Texas lifted its stake in Arcus Biosciences by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock worth $223,000 after purchasing an additional 2,410 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock worth $369,000 after purchasing an additional 2,500 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Arcus Biosciences by 8.1% in the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company’s stock worth $499,000 after purchasing an additional 2,521 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RCUS shares. Barclays decreased their price target on shares of Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Finally, Bank of America decreased their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $8.66 on Wednesday. The firm has a market cap of $916.96 million, a price-to-earnings ratio of -2.75 and a beta of 0.88. The company’s 50 day moving average is $8.35 and its 200 day moving average is $12.28. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences, Inc. has a 52-week low of $6.50 and a 52-week high of $18.98.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results 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 firm had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $38.61 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. Arcus Biosciences’s revenue for the quarter was down 80.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

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

About Arcus Biosciences

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.