Suvretta Capital Management LLC Has $8.58 Million Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Suvretta Capital Management LLC trimmed its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 13.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 576,156 shares of the company's stock after selling 87,447 shares during the period. Suvretta Capital Management LLC owned 0.63% of Arcus Biosciences worth $8,579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in Arcus Biosciences by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 16,379 shares of the company's stock valued at $244,000 after purchasing an additional 5,038 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in shares of Arcus Biosciences by 24.2% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,273,789 shares of the company's stock worth $18,967,000 after purchasing an additional 248,035 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Arcus Biosciences by 140.6% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,646 shares of the company's stock worth $1,141,000 after purchasing an additional 44,784 shares during the period. Millennium Management LLC lifted its position in shares of Arcus Biosciences by 277.1% during 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after purchasing an additional 833 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Price Performance

RCUS traded up $0.15 during midday trading on Tuesday, reaching $8.86. 910,258 shares of the company's stock were exchanged, compared to its average volume of 844,067. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $8.25 and a two-hundred day simple moving average of $12.02. The firm has a market capitalization of $938.14 million, a price-to-earnings ratio of -2.81 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.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $38.61 million. During the same period in the prior year, the firm earned ($0.05) EPS. Arcus Biosciences's quarterly revenue was down 80.7% compared to the same quarter last year. As a group, research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CEO Terry J. Rosen purchased 19,800 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the transaction, the chief executive officer now directly owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. The trade was a 0.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Yasunori Kaneko acquired 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 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 owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group dropped their price target on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Wedbush reiterated an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their price target on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

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.