Schonfeld Strategic Advisors LLC Sells 538,841 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Schonfeld Strategic Advisors LLC trimmed its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 80.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,997 shares of the company's stock after selling 538,841 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.15% of Arcus Biosciences worth $2,010,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp grew its stake in shares of Arcus Biosciences by 4.3% in the fourth quarter. Northern Trust Corp now owns 532,099 shares of the company's stock valued at $7,923,000 after buying an additional 22,181 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Arcus Biosciences by 37.5% in the fourth quarter. Voya Investment Management LLC now owns 24,674 shares of the company's stock valued at $367,000 after buying an additional 6,733 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Arcus Biosciences in the fourth quarter valued at $6,596,000. Dark Forest Capital Management LP grew its stake in shares of Arcus Biosciences by 102.8% in the fourth quarter. Dark Forest Capital Management LP now owns 30,202 shares of the company's stock valued at $450,000 after buying an additional 15,308 shares in the last quarter. Finally, Diadema Partners LP bought a new position in shares of Arcus Biosciences in the fourth quarter valued at $2,471,000. 92.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday. Wedbush reissued an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday. Wells Fargo & Company lowered 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 lowered their price target on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Finally, Barclays lowered their price target on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.67.

Insider Transactions 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 shares were acquired at an average price of $10.18 per share, with a total value 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 $26,001,348.80. This represents a 0.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yasunori Kaneko purchased 20,000 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the transaction, the director now directly owns 28,400 shares of the company's stock, valued at $285,704. This represents a 238.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS traded down $0.25 during trading hours on Friday, reaching $8.28. 1,185,733 shares of the stock were exchanged, compared to its average volume of 828,581. The firm has a market capitalization of $876.73 million, a price-to-earnings ratio of -2.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98. The stock's fifty day simple moving average is $8.40 and its 200 day simple moving average is $12.35.

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). The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Arcus Biosciences's revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Arcus Biosciences 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.