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 stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 443,000 shares of the company's stock, valued at approximately $6,596,000. Adage Capital Partners GP L.L.C. owned about 0.48% of Arcus Biosciences as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilead Sciences Inc. purchased a new position in shares of Arcus Biosciences during the 4th quarter worth approximately $447,610,000. Barclays PLC raised its stake in Arcus Biosciences by 49.0% in the third quarter. Barclays PLC now owns 118,693 shares of the company's stock valued at $1,816,000 after buying an additional 39,015 shares in the last quarter. Norges Bank acquired a new position in Arcus Biosciences in the fourth quarter valued at approximately $507,000. US Bancorp DE boosted its holdings 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 valued at $103,000 after buying an additional 6,615 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Arcus Biosciences during the fourth quarter worth about $207,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

Arcus Biosciences Stock Up 5.8 %

RCUS stock traded up $0.50 during mid-day trading on Friday, hitting $9.12. The stock had a trading volume of 1,304,557 shares, compared to its average volume of 815,021. The stock has a market capitalization of $965.67 million, a price-to-earnings ratio of -2.90 and a beta of 0.88. The company has a fifty day moving average of $8.58 and a 200 day moving average of $12.67. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98.

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

Arcus Biosciences Company 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.