Boxer Capital Management LLC Invests $23.86 Million in Arcus Biosciences, Inc. (NYSE:RCUS)

Boxer Capital Management LLC purchased a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,602,200 shares of the company's stock, valued at approximately $23,857,000. Arcus Biosciences accounts for about 2.0% of Boxer Capital Management LLC's investment portfolio, making the stock its 11th largest position. Boxer Capital Management LLC owned 1.75% of Arcus Biosciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gilead Sciences Inc. purchased a new position in Arcus Biosciences in the fourth quarter worth about $447,610,000. Dimensional Fund Advisors LP boosted its stake in Arcus Biosciences by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company's stock valued at $25,348,000 after purchasing an additional 178,351 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Arcus Biosciences by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 579,623 shares of the company's stock worth $8,631,000 after purchasing an additional 12,644 shares in the last quarter. Northern Trust Corp raised its stake in shares of Arcus Biosciences by 4.3% in the fourth quarter. Northern Trust Corp now owns 532,099 shares of the company's stock worth $7,923,000 after purchasing an additional 22,181 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Arcus Biosciences during the fourth quarter valued at $6,596,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Price Performance

Arcus Biosciences stock traded down $0.19 during midday trading on Monday, reaching $8.93. 818,564 shares of the stock traded hands, compared to its average volume of 815,036. 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 12 month low of $6.50 and a 12 month high of $18.98. The stock's fifty day moving average is $8.58 and its 200-day moving average is $12.67. The stock has a market cap of $945.34 million, a P/E ratio of -2.83 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million for the quarter, compared to analysts' expectations of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. As a group, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity at Arcus Biosciences

In other news, Director Yasunori Kaneko purchased 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the acquisition, the director now owns 28,400 shares of the company's stock, valued at approximately $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Terry J. Rosen acquired 19,800 shares of Arcus Biosciences stock in a transaction on Thursday, February 27th. The shares were purchased at an average price 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 in the company, 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 company insiders.

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.