Arcus Biosciences, Inc. (NYSE:RCUS) Holdings Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 220.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,167 shares of the company's stock after buying an additional 154,874 shares during the period. Cubist Systematic Strategies LLC owned about 0.25% of Arcus Biosciences worth $3,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RCUS. Braidwell LP acquired a new stake in shares of Arcus Biosciences in the fourth quarter valued at $11,943,000. Brevan Howard Capital Management LP lifted its position in Arcus Biosciences by 38.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 14,279 shares of the company's stock worth $213,000 after acquiring an additional 3,957 shares during the period. Balyasny Asset Management L.P. lifted its position in Arcus Biosciences by 19.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 58,194 shares of the company's stock worth $867,000 after acquiring an additional 9,614 shares during the period. Bank of America Corp DE lifted its position in Arcus Biosciences by 13.6% during the 4th quarter. Bank of America Corp DE now owns 160,145 shares of the company's stock worth $2,385,000 after acquiring an additional 19,232 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Arcus Biosciences by 79.6% during the 4th quarter. BNP Paribas Financial Markets now owns 20,341 shares of the company's stock worth $303,000 after acquiring an additional 9,016 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arcus Biosciences news, CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired 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 owns 2,554,160 shares of the company's stock, valued at $26,001,348.80. This represents a 0.78% increase in their position. The acquisition 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 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 of the company's stock, valued at $285,704. This represents a 238.10% increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company's stock.

Arcus Biosciences Price Performance

NYSE:RCUS traded up $0.05 during mid-day trading on Friday, reaching $8.62. 311,382 shares of the stock were exchanged, compared to its average volume of 836,310. The business has a fifty day moving average price of $8.31 and a 200 day moving average price of $12.20. The firm has a market capitalization of $912.20 million, a PE ratio of -2.75 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 current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 45.59% and a negative net margin of 102.66%. The business's revenue was down 80.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCUS has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Morgan Stanley reduced their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, Barclays cut their price objective 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. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Arcus Biosciences presently has an average rating of "Moderate Buy" and an average target price of $25.67.

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.