Adage Capital Partners GP L.L.C. Takes Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Adage Capital Partners GP L.L.C. acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 443,000 shares of the company's stock, valued at approximately $6,596,000. Adage Capital Partners GP L.L.C. owned 0.48% of Arcus Biosciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCUS. R Squared Ltd purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at $26,000. US Bancorp DE raised its position in shares of Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock worth $103,000 after acquiring an additional 6,615 shares in the last quarter. PEAK6 LLC bought a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $149,000. AXQ Capital LP purchased a new position in shares of Arcus Biosciences in the 4th quarter valued at approximately $160,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at approximately $207,000. Institutional investors own 92.89% of the company's stock.

Arcus Biosciences Price Performance

Shares of RCUS traded up $0.50 during mid-day trading on Friday, reaching $9.12. The stock had a trading volume of 1,304,557 shares, compared to its average volume of 812,485. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The firm has a market cap of $958.86 million, a price-to-earnings ratio of -2.90 and a beta of 1.54. The business has a fifty day moving average of $8.60 and a 200 day moving average of $12.81.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts' consensus estimates of ($1.17) by $0.14. The firm had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Equities analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Buying and Selling

In other Arcus Biosciences news, Director Yasunori Kaneko acquired 20,000 shares of the company's stock in a transaction dated 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 acquisition, the director now directly owns 28,400 shares of the company's stock, valued at approximately $285,704. The trade was a 238.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Terry J. Rosen bought 19,800 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were bought 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 owns 2,554,160 shares of the company's stock, valued at $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RCUS shares. Bank of America lowered their price objective on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their target price for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Barclays cut their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lowered their price target on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $28.38.

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.