Woodline Partners LP Has $52.47 Million Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Woodline Partners LP raised its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,523,937 shares of the company's stock after buying an additional 45,497 shares during the period. Woodline Partners LP owned approximately 3.85% of Arcus Biosciences worth $52,471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company's stock worth $1,816,000 after purchasing an additional 39,015 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after acquiring an additional 1,117 shares during the last quarter. R Squared Ltd bought a new position in Arcus Biosciences in the fourth quarter worth about $26,000. Principal Financial Group Inc. lifted its holdings in Arcus Biosciences by 3.1% in 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 last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock worth $369,000 after acquiring an additional 2,500 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Terry J. Rosen acquired 19,800 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased 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 of the company's stock, valued at approximately $26,001,348.80. This trade represents a 0.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Yasunori Kaneko acquired 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased 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 approximately $285,704. This trade represents a 238.10% increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by company insiders.

Arcus Biosciences Price Performance

Arcus Biosciences stock traded up $0.27 during mid-day trading on Friday, hitting $9.05. The company's stock had a trading volume of 901,320 shares, compared to its average volume of 849,301. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $957.73 million, a P/E ratio of -2.87 and a beta of 0.88. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $18.98. The stock's fifty day moving average price is $8.23 and its two-hundred day moving average price is $11.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly 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). The business 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 company's quarterly revenue was down 80.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. Research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RCUS shares. Bank of America cut their target price 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. Morgan Stanley dropped their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Barclays dropped their price target on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Two equities 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.