Cubist Systematic Strategies LLC Grows Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Cubist Systematic Strategies LLC raised its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 220.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 225,167 shares of the company's stock after purchasing an additional 154,874 shares during the period. Cubist Systematic Strategies LLC owned 0.25% of Arcus Biosciences worth $3,353,000 at the end of the most recent reporting period.

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

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $8.28 on Friday. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month 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. The company has a market cap of $876.73 million, a PE ratio of -2.63 and a beta of 0.88. The company's 50 day moving average is $8.40 and its 200 day moving average is $12.39.

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 the consensus estimate of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $28.00 million for the quarter, compared to analysts' expectations of $38.61 million. During the same period last year, the business earned ($0.05) EPS. The company's revenue for the quarter was down 80.7% on a year-over-year basis. On average, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Activity

In other news, Director Yasunori Kaneko bought 20,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.06 per share, with a total value of $201,200.00. Following the purchase, the director now directly owns 28,400 shares in the company, valued at $285,704. The trade was a 238.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Terry J. Rosen purchased 19,800 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.18 per share, with a total value of $201,564.00. Following the purchase, the chief executive officer now owns 2,554,160 shares in the company, valued at $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on RCUS shares. Barclays decreased their price target on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday. Bank of America dropped their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.