Trexquant Investment LP Raises Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Trexquant Investment LP raised its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 241.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 300,548 shares of the company’s stock after acquiring an additional 212,552 shares during the period. Trexquant Investment LP’s holdings in Arcus Biosciences were worth $4,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCUS. FMR LLC grew its position in Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after acquiring an additional 286,766 shares during the period. Jane Street Group LLC increased its position in shares of Arcus Biosciences by 59.8% during the 3rd quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after purchasing an additional 81,193 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Arcus Biosciences in the 4th quarter valued at about $954,000. Charles Schwab Investment Management Inc. lifted its position in Arcus Biosciences by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after buying an additional 59,536 shares during the last quarter. Finally, Barclays PLC boosted its stake in Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after buying an additional 39,015 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $6.87 on Friday. 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 market cap of $722.30 million, a price-to-earnings ratio of -2.18 and a beta of 1.54. The stock’s 50-day moving average is $10.50 and its two-hundred day moving average is $14.00. Arcus Biosciences, Inc. has a 1-year low of $6.79 and a 1-year high of $18.98.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, Director Yasunori Kaneko purchased 20,000 shares of the business’s stock in a transaction 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 completion of the purchase, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This represents a 238.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Terry J. Rosen acquired 19,800 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, with a total value of $201,564.00. Following the completion of the transaction, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This represents 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.

Analysts Set New Price Targets

Several equities analysts have recently commented on RCUS shares. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America lowered their price target 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. Finally, Morgan Stanley cut their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $30.25.

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.