1,602,200 Shares in Arcus Biosciences, Inc. (NYSE:RCUS) Bought by Boxer Capital Management LLC

Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,602,200 shares of the company's stock, valued at approximately $23,857,000. Arcus Biosciences makes up about 2.0% of Boxer Capital Management LLC's portfolio, making the stock its 11th largest position. Boxer Capital Management LLC owned about 1.75% of Arcus Biosciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RCUS. Gilead Sciences Inc. bought a new position in shares of Arcus Biosciences during the fourth quarter worth about $447,610,000. Adage Capital Partners GP L.L.C. bought a new position in Arcus Biosciences during the 4th quarter worth approximately $6,596,000. Trexquant Investment LP grew its position in shares of Arcus Biosciences by 241.5% in the 4th quarter. Trexquant Investment LP now owns 300,548 shares of the company's stock worth $4,475,000 after acquiring an additional 212,552 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Arcus Biosciences by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company's stock valued at $25,348,000 after acquiring an additional 178,351 shares during the last quarter. Finally, Diadema Partners LP acquired a new stake in shares of Arcus Biosciences during the 4th quarter valued at approximately $2,471,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RCUS shares. Wells Fargo & Company decreased their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Bank of America cut their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Finally, Barclays lowered their price objective on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $28.00.

Arcus Biosciences Stock Down 4.6 %

Shares of Arcus Biosciences stock traded down $0.37 during midday trading on Wednesday, hitting $7.75. The company's stock had a trading volume of 809,337 shares, compared to its average volume of 817,899. The firm has a market capitalization of $820.61 million, a P/E ratio of -2.46 and a beta of 0.88. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $12.58.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The company had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm's quarterly revenue was down 80.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CEO Terry J. Rosen bought 19,800 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.18 per share, with a total value of $201,564.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the acquisition, the director now directly owns 28,400 shares in the company, valued at $285,704. This represents a 238.10 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by company insiders.

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.