Braidwell LP Makes New Investment in Arcus Biosciences, Inc. (NYSE:RCUS)

Braidwell LP bought a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 802,100 shares of the company's stock, valued at approximately $11,943,000. Braidwell LP owned about 0.88% of Arcus Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Arcus Biosciences during the 4th quarter valued at approximately $26,000. US Bancorp DE grew its stake in shares of Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company's stock worth $103,000 after acquiring an additional 6,615 shares during the last quarter. PEAK6 LLC acquired a new position in Arcus Biosciences during the 4th quarter valued at $149,000. AXQ Capital LP acquired a new stake in Arcus Biosciences during the fourth quarter worth about $160,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Arcus Biosciences in the 4th quarter worth approximately $207,000. Institutional investors own 92.89% of the company's stock.

Analyst Upgrades and Downgrades

RCUS has been the subject of several research reports. Morgan Stanley reduced their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday. Bank of America decreased their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Barclays decreased their price objective on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

Insider Activity at Arcus Biosciences

In other news, CEO Terry J. Rosen acquired 19,800 shares of the company's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.18 per share, with a total value of $201,564.00. Following 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yasunori Kaneko bought 20,000 shares of the business's stock in a transaction on 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 completion of the transaction, the director now owns 28,400 shares in the company, valued at approximately $285,704. This trade 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 Price Performance

Shares of RCUS stock traded down $0.25 during trading hours on Friday, hitting $8.28. 1,185,733 shares of the company's stock were exchanged, compared to its average volume of 829,134. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98. The stock has a market cap of $876.73 million, a price-to-earnings ratio of -2.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The stock's 50-day moving average is $8.40 and its 200-day moving average is $12.43.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted 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). Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The company's revenue was down 80.7% compared to the same quarter last year. As a group, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

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.