Arcus Biosciences, Inc. (NYSE:RCUS) Shares Purchased by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC boosted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,273,789 shares of the company's stock after acquiring an additional 248,035 shares during the quarter. Arcus Biosciences comprises 2.5% of Parkman Healthcare Partners LLC's holdings, making the stock its 13th largest holding. Parkman Healthcare Partners LLC owned approximately 1.39% of Arcus Biosciences worth $18,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCUS. Gilead Sciences Inc. purchased a new position in Arcus Biosciences in the fourth quarter valued at $447,610,000. Boxer Capital Management LLC purchased a new position in Arcus Biosciences in the fourth quarter valued at $23,857,000. Braidwell LP purchased a new position in Arcus Biosciences in the fourth quarter valued at $11,943,000. Millennium Management LLC boosted its holdings in Arcus Biosciences by 277.1% in the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company's stock valued at $13,764,000 after purchasing an additional 679,267 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Arcus Biosciences in the fourth quarter valued at $6,928,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the acquisition, the chief executive officer now directly 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 purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.06 per share, with a total value of $201,200.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Analysts Set New Price Targets

RCUS has been the subject of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their target price for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America reduced their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Two 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.67.

Arcus Biosciences Price Performance

Shares of RCUS traded up $0.26 on Monday, reaching $8.82. The stock had a trading volume of 304,094 shares, compared to its average volume of 838,780. The firm has a market capitalization of $934.12 million, a PE ratio of -2.77 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. The firm has a 50-day moving average of $8.28 and a 200 day moving average of $12.09. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). The firm had revenue of $28.00 million during 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 company'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. Sell-side analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS 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.