PDT Partners LLC Acquires 38,116 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

PDT Partners LLC boosted its holdings in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,752 shares of the company's stock after purchasing an additional 38,116 shares during the quarter. PDT Partners LLC owned about 0.14% of Arcus Biosciences worth $1,872,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Arcus Biosciences by 4.3% during the 4th quarter. Northern Trust Corp now owns 532,099 shares of the company's stock valued at $7,923,000 after acquiring an additional 22,181 shares during the period. Voya Investment Management LLC raised its holdings in shares of Arcus Biosciences by 37.5% during the fourth quarter. Voya Investment Management LLC now owns 24,674 shares of the company's stock valued at $367,000 after purchasing an additional 6,733 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at about $6,596,000. Dark Forest Capital Management LP boosted its position in shares of Arcus Biosciences by 102.8% during the 4th quarter. Dark Forest Capital Management LP now owns 30,202 shares of the company's stock worth $450,000 after purchasing an additional 15,308 shares in the last quarter. Finally, Diadema Partners LP acquired a new stake in shares of Arcus Biosciences in the 4th quarter valued at about $2,471,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arcus Biosciences

In related news, CEO Terry J. Rosen purchased 19,800 shares of Arcus Biosciences stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 2,554,160 shares in the company, valued at $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Yasunori Kaneko acquired 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were bought 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 of the company's stock, valued at $285,704. The trade was a 238.10 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RCUS. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their price target for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America cut their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. 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. Finally, Morgan Stanley lowered their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $28.38.

Arcus Biosciences Stock Up 5.8 %

Shares of RCUS traded up $0.50 during trading hours on Friday, reaching $9.12. 1,304,557 shares of the stock traded hands, compared to its average volume of 813,915. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98. The company has a market cap of $958.86 million, a price-to-earnings ratio of -2.90 and a beta of 1.54. The stock has a fifty day simple moving average of $8.58 and a 200 day simple moving average of $12.75. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.17) by $0.14. The firm had revenue of $36.00 million for 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%. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS 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.