Point72 Asset Management L.P. Sells 440,794 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Point72 Asset Management L.P. reduced its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,996,279 shares of the company's stock after selling 440,794 shares during the quarter. Point72 Asset Management L.P. owned approximately 2.18% of Arcus Biosciences worth $29,725,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Gilead Sciences Inc. acquired a new stake in shares of Arcus Biosciences in the fourth quarter valued at $447,610,000. Boxer Capital Management LLC acquired a new stake in shares of Arcus Biosciences during the fourth quarter worth $23,857,000. Braidwell LP acquired a new position in shares of Arcus Biosciences in the 4th quarter valued at $11,943,000. Millennium Management LLC increased its stake in Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company's stock worth $13,764,000 after purchasing an additional 679,267 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Arcus Biosciences during the 4th quarter worth about $6,928,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Analyst Ratings Changes

RCUS has been the topic of several research analyst reports. Bank of America lowered their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Barclays dropped their price objective on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their price target for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.67.

Insider Buying and Selling

In other news, CEO Terry J. Rosen bought 19,800 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired 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 owns 2,554,160 shares of the company's stock, valued at approximately $26,001,348.80. The trade was a 0.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available 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 acquired at an average price of $10.06 per share, with a total value of $201,200.00. Following the transaction, the director now owns 28,400 shares in the company, valued at approximately $285,704. The trade was a 238.10% increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Arcus Biosciences Stock Performance

Shares of RCUS remained flat at $8.61 during trading hours on Thursday. The stock had a trading volume of 258,142 shares, compared to its average volume of 844,377. The company has a market cap of $911.67 million, a PE ratio of -2.75 and a beta of 0.88. The stock has a 50 day moving average price of $8.24 and a 200-day moving average price of $12.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $28.00 million during the quarter, compared to the consensus estimate of $38.61 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The business's quarterly revenue was down 80.7% on a year-over-year basis. Equities analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal 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.