Panagora Asset Management Inc. Acquires 129,697 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Panagora Asset Management Inc. lifted its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 130.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,996 shares of the company's stock after acquiring an additional 129,697 shares during the period. Panagora Asset Management Inc. owned 0.31% of Arcus Biosciences worth $4,374,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RCUS. Alps Advisors Inc. grew its stake in shares of Arcus Biosciences by 2.3% during the 3rd quarter. Alps Advisors Inc. now owns 54,951 shares of the company's stock valued at $986,000 after buying an additional 1,214 shares during the period. Arizona State Retirement System raised its holdings in shares of Arcus Biosciences by 10.0% in the 3rd quarter. Arizona State Retirement System now owns 13,530 shares of the company's stock worth $243,000 after purchasing an additional 1,226 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Arcus Biosciences by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 329,442 shares of the company's stock worth $5,913,000 after purchasing an additional 1,312 shares during the period. GAMMA Investing LLC acquired a new position in shares of Arcus Biosciences in the 4th quarter valued at about $31,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Arcus Biosciences by 13.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 13,496 shares of the company's stock worth $242,000 after purchasing an additional 1,613 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 24,555 shares of Arcus Biosciences stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.07, for a total transaction of $492,818.85. Following the sale, the chief operating officer now directly owns 274,323 shares in the company, valued at $5,505,662.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Juan C. Jaen sold 3,900 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.06, for a total transaction of $78,234.00. Following the sale, the president now directly owns 1,211,365 shares of the company's stock, valued at $24,299,981.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Jarrett sold 24,555 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.07, for a total value of $492,818.85. Following the completion of the transaction, the chief operating officer now owns 274,323 shares of the company's stock, valued at approximately $5,505,662.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,455 shares of company stock worth $1,014,779. Company insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RCUS. Mizuho decreased their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, January 30th. Truist Financial reiterated a "buy" rating and issued a $50.00 price target on shares of Arcus Biosciences in a report on Monday, March 25th. Finally, Wedbush restated an "outperform" rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.25.

Arcus Biosciences Trading Down 3.2 %

RCUS traded down $0.56 during trading on Friday, reaching $16.90. 525,096 shares of the company were exchanged, compared to its average volume of 587,427. Arcus Biosciences, Inc. has a 52 week low of $12.95 and a 52 week high of $25.47. The firm has a 50 day moving average of $16.76 and a 200 day moving average of $16.66. The stock has a market cap of $1.54 billion, a P/E ratio of -5.43 and a beta of 0.91.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.92. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The business had revenue of $145.00 million for the quarter, compared to analysts' expectations of $28.77 million. During the same quarter last year, the company earned ($1.09) EPS. The company's revenue for the quarter was up 480.0% compared to the same quarter last year. As a group, analysts forecast that Arcus Biosciences, Inc. will post -3.02 earnings per share for the current fiscal year.

Arcus Biosciences 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.