Raymond James Financial Inc. Acquires New Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Raymond James Financial Inc. purchased a new stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 35,662 shares of the company's stock, valued at approximately $531,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company's stock valued at $1,816,000 after purchasing an additional 39,015 shares during the last quarter. Norges Bank acquired a new stake in Arcus Biosciences in the fourth quarter worth $507,000. US Bancorp DE boosted its holdings in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after acquiring an additional 6,615 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Arcus Biosciences in the 4th quarter worth about $207,000. Finally, Amundi lifted its position in Arcus Biosciences by 137.0% in the 4th quarter. Amundi now owns 27,030 shares of the company's stock valued at $403,000 after purchasing an additional 15,624 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, Director Yasunori Kaneko bought 20,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This represents a 238.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired 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 position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America reduced their price objective on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Barclays lowered their price target on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of 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 shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their target price for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group dropped their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Two investment 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. According to MarketBeat, Arcus Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.67.

Arcus Biosciences Price Performance

Shares of NYSE RCUS traded down $0.13 during midday trading on Wednesday, reaching $8.55. The company's stock had a trading volume of 270,645 shares, compared to its average volume of 1,070,897. The company has a market cap of $904.79 million, a price-to-earnings ratio of -2.71 and a beta of 0.88. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $8.35 and a 200 day moving average price of $12.28.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) EPS 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 analyst estimates 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 revenue was down 80.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. On average, equities research 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.