AXQ Capital LP Makes New Investment in Arcus Biosciences, Inc. (NYSE:RCUS)

AXQ Capital LP bought a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,761 shares of the company’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. raised its position in shares of Arcus Biosciences by 11.1% in the 4th quarter. American Century Companies Inc. now owns 97,764 shares of the company’s stock worth $1,456,000 after acquiring an additional 9,782 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Arcus Biosciences by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock worth $223,000 after purchasing an additional 2,410 shares in the last quarter. Intech Investment Management LLC lifted its position in Arcus Biosciences by 63.9% during the fourth quarter. Intech Investment Management LLC now owns 26,155 shares of the company’s stock valued at $389,000 after buying an additional 10,196 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Arcus Biosciences during the 4th quarter valued at $954,000. Finally, Amundi grew its position in shares of Arcus Biosciences by 137.0% in the 4th quarter. Amundi now owns 27,030 shares of the company’s stock worth $403,000 after buying an additional 15,624 shares during the period. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $9.15 on Tuesday. The company has a 50 day moving average of $11.57 and a 200 day moving average of $14.55. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences, Inc. has a twelve month low of $8.82 and a twelve month high of $19.11. The firm has a market cap of $961.49 million, a P/E ratio of -2.90 and a beta of 1.36.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on RCUS. Bank of America lowered their price target 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. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $30.25.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Terry J. Rosen acquired 19,800 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.18 per share, with a total value of $201,564.00. Following the transaction, the chief executive officer now owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

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.