Woodline Partners LP Purchases 45,497 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Woodline Partners LP lifted its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,523,937 shares of the company's stock after buying an additional 45,497 shares during the quarter. Woodline Partners LP owned about 3.85% of Arcus Biosciences worth $52,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Arcus Biosciences by 2.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock worth $506,000 after buying an additional 833 shares during the period. JPMorgan Chase & Co. grew its position in shares of Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after purchasing an additional 1,117 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth about $26,000. Teacher Retirement System of Texas grew its position in shares of Arcus Biosciences by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock worth $223,000 after purchasing an additional 2,410 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Arcus Biosciences by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock worth $369,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RCUS. Wedbush reiterated an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Morgan Stanley cut 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, May 9th. Bank of America cut their target price 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. Finally, The Goldman Sachs Group cut their target price on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Two 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 company. According to MarketBeat.com, Arcus Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $8.70 on Tuesday. The stock has a market capitalization of $921.20 million, a PE ratio of -2.76 and a beta of 0.88. The business has a 50 day simple moving average of $8.26 and a two-hundred day simple moving average of $12.04. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $28.00 million for the quarter, compared to analysts' expectations of $38.61 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business's quarterly revenue was down 80.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In related news, Director Yasunori Kaneko bought 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the acquisition, the director now owns 28,400 shares in the company, valued at $285,704. This trade represents a 238.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Terry J. Rosen bought 19,800 shares of the company's stock in a transaction dated 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 acquisition, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This trade represents a 0.78% increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company's stock.

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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