PDT Partners LLC Increases Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

PDT Partners LLC grew its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 43.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,752 shares of the company's stock after buying an additional 38,116 shares during the quarter. PDT Partners LLC owned 0.14% of Arcus Biosciences worth $1,872,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RCUS. JPMorgan Chase & Co. increased its stake in Arcus Biosciences by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after purchasing an additional 1,117 shares during the period. R Squared Ltd purchased a new stake in Arcus Biosciences during the 4th quarter valued at $26,000. Teacher Retirement System of Texas grew its holdings in Arcus Biosciences by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock worth $223,000 after acquiring an additional 2,410 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock valued at $369,000 after acquiring an additional 2,500 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Arcus Biosciences by 8.1% during the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company's stock valued at $499,000 after acquiring an additional 2,521 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Stock Down 1.1 %

Shares of NYSE RCUS traded down $0.10 on Monday, reaching $9.02. 154,559 shares of the company's stock traded hands, compared to its average volume of 812,434. 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 business's 50 day simple moving average is $8.58 and its two-hundred day simple moving average is $12.67. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a market cap of $955.08 million, a price-to-earnings ratio of -2.87 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million during the quarter, compared to analysts' expectations of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. As a group, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In related news, CEO Terry J. Rosen purchased 19,800 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased 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 directly owns 2,554,160 shares in the company, valued at $26,001,348.80. The trade was a 0.78 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yasunori Kaneko acquired 20,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares of the company's stock, valued at $285,704. The trade was a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RCUS shares. HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their price target for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Bank of America reduced their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley dropped their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Finally, Barclays reduced 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 report on Wednesday, April 23rd. One investment 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 stock. According to MarketBeat, Arcus Biosciences currently has an average rating of "Buy" and a consensus target price of $28.38.

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.