Bank of New York Mellon Corp Has $5.68 Million Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Bank of New York Mellon Corp lifted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 381,615 shares of the company’s stock after purchasing an additional 30,290 shares during the period. Bank of New York Mellon Corp owned 0.42% of Arcus Biosciences worth $5,682,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after acquiring an additional 286,766 shares during the last quarter. Point72 Asset Management L.P. raised its position in Arcus Biosciences by 32.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after buying an additional 603,222 shares during the last quarter. Parkman Healthcare Partners LLC grew its stake in Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Arcus Biosciences by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after purchasing an additional 186,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after acquiring an additional 59,536 shares during the period. Institutional investors own 92.89% of the company’s stock.

Insider Transactions at Arcus Biosciences

In related news, Director Yasunori Kaneko purchased 20,000 shares of Arcus Biosciences stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the transaction, the director now owns 28,400 shares in the company, valued at $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Arcus Biosciences Trading Down 2.0 %

NYSE RCUS opened at $9.35 on Monday. Arcus Biosciences, Inc. has a 12 month low of $9.01 and a 12 month high of $19.11. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $14.87. The firm has a market capitalization of $982.51 million, a PE ratio of -2.97 and a beta of 1.36.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly 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 return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. On average, analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on RCUS shares. Bank of America reduced their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One 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 company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $30.25.

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.