Arcus Biosciences, Inc. (NYSE:RCUS) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 277.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 924,369 shares of the company's stock after buying an additional 679,267 shares during the quarter. Millennium Management LLC owned 1.01% of Arcus Biosciences worth $13,764,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RCUS. Barclays PLC lifted its holdings in Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company's stock worth $1,816,000 after buying an additional 39,015 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 in the last quarter. R Squared Ltd acquired a new stake in Arcus Biosciences during the 4th quarter worth approximately $26,000. Principal Financial Group Inc. lifted its holdings in Arcus Biosciences by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 263,517 shares of the company's stock worth $3,924,000 after buying an additional 7,906 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Arcus Biosciences by 11.2% during the 4th quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock worth $369,000 after buying an additional 2,500 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arcus Biosciences news, Director Yasunori Kaneko acquired 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Terry J. Rosen acquired 19,800 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the transaction, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. The trade was a 0.78% increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $8.78 on Friday. The company's fifty day moving average price is $8.23 and its 200 day moving average price is $11.95. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $18.98. 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 firm has a market capitalization of $929.67 million, a P/E ratio of -2.79 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) 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 company had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Arcus Biosciences's revenue was down 80.7% compared to the same quarter last year. As a group, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company reduced their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. HC Wainwright upgraded shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their price objective for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Finally, Bank of America reduced their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Two 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. According to MarketBeat, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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