Raymond James Financial Inc. Purchases Shares of 35,662 Arcus Biosciences, Inc. (NYSE:RCUS)

Raymond James Financial Inc. acquired a new position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,662 shares of the company's stock, valued at approximately $531,000.

Several other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Arcus Biosciences by 21.4% in the fourth quarter. Invesco Ltd. now owns 203,987 shares of the company's stock worth $3,037,000 after purchasing an additional 35,905 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Arcus Biosciences by 187.7% during the fourth quarter. Russell Investments Group Ltd. now owns 29,953 shares of the company's stock valued at $446,000 after acquiring an additional 19,543 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Arcus Biosciences by 105.9% during the fourth quarter. Wells Fargo & Company MN now owns 38,618 shares of the company's stock valued at $575,000 after acquiring an additional 19,865 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at approximately $896,000. Finally, Trexquant Investment LP raised its stake in shares of Arcus Biosciences by 241.5% during the fourth quarter. Trexquant Investment LP now owns 300,548 shares of the company's stock valued at $4,475,000 after acquiring an additional 212,552 shares in the last quarter. Institutional investors own 92.89% of the company's stock.

Insider Activity

In other Arcus Biosciences news, Director Yasunori Kaneko purchased 20,000 shares of the stock in a transaction on 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 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the acquisition, the chief executive officer now owns 2,554,160 shares of the company's stock, valued at $26,001,348.80. The trade was a 0.78% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company's stock.

Arcus Biosciences Stock Performance

Shares of RCUS traded down $0.11 during trading hours on Tuesday, reaching $8.69. 452,018 shares of the company traded hands, compared to its average volume of 834,638. The stock has a market capitalization of $920.14 million, a P/E ratio of -2.76 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. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $18.98. The business has a fifty day moving average price of $8.38 and a 200-day moving average price of $12.30.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $28.00 million for 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%. Arcus Biosciences's quarterly revenue was down 80.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. Equities analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America cut their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Morgan Stanley cut their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

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.