Braidwell LP Takes $11.94 Million Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Braidwell LP 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 Securities & Exchange Commission. The institutional investor acquired 802,100 shares of the company's stock, valued at approximately $11,943,000. Braidwell LP owned 0.88% of Arcus Biosciences at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RCUS. Barclays PLC increased its holdings in shares of 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 purchasing an additional 39,015 shares during the period. JPMorgan Chase & Co. raised its position in Arcus Biosciences by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after buying an additional 1,117 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Arcus Biosciences by 2.5% in the 4th quarter. Nordea Investment Management AB now owns 218,930 shares of the company's stock worth $3,245,000 after acquiring an additional 5,246 shares during the period. R Squared Ltd purchased a new stake in shares of Arcus Biosciences in the fourth quarter valued at about $26,000. Finally, Principal Financial Group Inc. increased its stake in shares of Arcus Biosciences by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 263,517 shares of the company's stock worth $3,924,000 after acquiring an additional 7,906 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arcus Biosciences

In other news, Director Yasunori Kaneko acquired 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was acquired 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 directly owns 28,400 shares in the company, valued at $285,704. This represents a 238.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Terry J. Rosen purchased 19,800 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.18 per share, with a total value of $201,564.00. Following the transaction, 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

RCUS has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday. Bank of America cut 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. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday. Barclays lowered their target price 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, Wedbush reissued an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences has an average rating of "Moderate Buy" and a consensus target price of $25.67.

Arcus Biosciences Trading Down 2.9 %

Arcus Biosciences stock traded down $0.25 during trading on Friday, hitting $8.28. The company's stock had a trading volume of 1,185,733 shares, compared to its average volume of 828,581. The stock has a market capitalization of $876.73 million, a price-to-earnings ratio of -2.63 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 debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The stock's fifty day moving average is $8.40 and its 200 day moving average is $12.39.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). The business had revenue of $28.00 million for 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 company's quarterly revenue was down 80.7% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. As a group, equities research analysts predict 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.