Norges Bank Acquires New Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Norges Bank purchased a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 34,044 shares of the company's stock, valued at approximately $507,000.

Several other institutional investors have also recently made changes to their positions in RCUS. R Squared Ltd purchased a new stake in Arcus Biosciences in the 4th quarter worth approximately $26,000. US Bancorp DE raised its holdings in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after acquiring an additional 6,615 shares during the period. AXQ Capital LP purchased a new position in shares of Arcus Biosciences in the fourth quarter worth $160,000. KLP Kapitalforvaltning AS bought a new position in shares of Arcus Biosciences during the fourth quarter worth $207,000. Finally, Teacher Retirement System of Texas grew its stake in Arcus Biosciences by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock valued at $223,000 after acquiring an additional 2,410 shares in the last quarter. Institutional investors own 92.89% of the company's stock.

Insiders Place Their Bets

In other news, CEO Terry J. Rosen bought 19,800 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the acquisition, the chief executive officer now owns 2,554,160 shares of the company's stock, valued at $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This represents a 238.10 % increase in their position. 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. HC Wainwright upgraded shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Finally, Bank of America decreased their price objective on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Arcus Biosciences has a consensus rating of "Buy" and an average price target of $30.25.

Arcus Biosciences Trading Up 0.8 %

NYSE:RCUS traded up $0.06 during mid-day trading on Thursday, hitting $7.91. 232,415 shares of the stock traded hands, compared to its average volume of 782,238. 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 $831.64 million, a price-to-earnings ratio of -2.51 and a beta of 1.54. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98. The firm's 50 day moving average is $9.39 and its two-hundred day moving average is $13.46.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $36.00 million during the quarter, compared to analysts' expectations of $29.38 million. On average, equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

About Arcus Biosciences

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.