Renaissance Technologies LLC Reduces Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Renaissance Technologies LLC reduced its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 89.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,500 shares of the company's stock after selling 165,400 shares during the quarter. Renaissance Technologies LLC's holdings in Arcus Biosciences were worth $275,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Arcus Biosciences during the fourth quarter valued at about $26,000. US Bancorp DE grew its stake in Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after buying an additional 6,615 shares in the last quarter. AXQ Capital LP bought a new stake in Arcus Biosciences during the 4th quarter valued at $160,000. KLP Kapitalforvaltning AS bought a new stake in Arcus Biosciences during the 4th quarter valued at $207,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Arcus Biosciences by 19.2% during the fourth 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 in the last quarter. Institutional investors own 92.89% of the company's stock.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS traded down $0.25 on Friday, hitting $8.28. The company's stock had a trading volume of 1,185,733 shares, compared to its average volume of 828,581. The company has a market capitalization of $876.73 million, a PE ratio of -2.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The company has a 50-day simple moving average of $8.40 and a 200 day simple moving average of $12.35. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its earnings results 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). Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $28.00 million during the quarter, compared to analysts' expectations of $38.61 million. During the same period in the prior year, the business earned ($0.05) earnings per share. The company's revenue for the quarter was down 80.7% compared to the same quarter last year. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RCUS has been the subject of several recent research reports. Barclays reduced their price target on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. 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. Wells Fargo & Company decreased their price target on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday. Bank of America cut their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, Wedbush reaffirmed an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday. 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

Insider Activity

In other news, Director Yasunori Kaneko bought 20,000 shares of the business's stock in a transaction on 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 purchase, the director now directly owns 28,400 shares in the company, valued at $285,704. This represents a 238.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Terry J. Rosen purchased 19,800 shares of Arcus Biosciences stock in a transaction on 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 completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company's stock.

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.