Jacobs Levy Equity Management Inc. Makes New Investment in Arcus Biosciences, Inc. (NYSE:RCUS)

Jacobs Levy Equity Management Inc. acquired a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 465,304 shares of the company's stock, valued at approximately $6,928,000. Jacobs Levy Equity Management Inc. owned about 0.51% of Arcus Biosciences at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gilead Sciences Inc. acquired a new position in Arcus Biosciences during the 4th quarter worth approximately $447,610,000. Dimensional Fund Advisors LP grew its stake in shares of Arcus Biosciences by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company's stock worth $25,348,000 after purchasing an additional 178,351 shares in the last quarter. Boxer Capital Management LLC purchased a new position in Arcus Biosciences in the fourth quarter valued at $23,857,000. Ameriprise Financial Inc. raised its stake in Arcus Biosciences by 17.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company's stock valued at $23,044,000 after buying an additional 228,325 shares in the last quarter. Finally, Braidwell LP purchased a new stake in Arcus Biosciences during the 4th quarter worth about $11,943,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RCUS. Wells Fargo & Company cut their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley reduced their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Wedbush restated an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. The Goldman Sachs Group cut 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. Finally, Barclays reduced 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. Two investment 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.67.

Insider Activity at Arcus Biosciences

In related news, Director Yasunori Kaneko purchased 20,000 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The shares were purchased 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. The trade was a 238.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Terry J. Rosen purchased 19,800 shares of the firm's stock in a transaction on 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 $26,001,348.80. This trade represents a 0.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Arcus Biosciences Trading Down 0.3%

Shares of RCUS traded down $0.03 on Monday, hitting $8.54. 162,455 shares of the stock traded hands, compared to its average volume of 838,186. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. The stock's 50 day moving average is $8.28 and its two-hundred day moving average is $12.09. The firm has a market capitalization of $903.73 million, a P/E ratio of -2.71 and a beta of 0.88. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued 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 period last year, the company posted ($0.05) EPS. The business's revenue for the quarter was down 80.7% on a year-over-year basis. As a group, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

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.