KLP Kapitalforvaltning AS Purchases Shares of 13,900 Arcus Biosciences, Inc. (NYSE:RCUS)

KLP Kapitalforvaltning AS acquired a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,900 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. R Squared Ltd acquired a new position in Arcus Biosciences during the 4th quarter worth approximately $26,000. US Bancorp DE lifted its holdings in shares of Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares in the last quarter. AXQ Capital LP acquired a new stake in Arcus Biosciences in the 4th quarter valued at $160,000. Teacher Retirement System of Texas increased its stake in Arcus Biosciences by 19.2% during the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after purchasing an additional 2,410 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Arcus Biosciences by 100.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 23,581 shares of the company’s stock worth $361,000 after buying an additional 11,827 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Morgan Stanley decreased their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Buy” and an average target price of $30.25.

Insider Activity

In other Arcus Biosciences news, Director Yasunori Kaneko purchased 20,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.06 per share, with a total value of $201,200.00. Following the completion of the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This trade represents a 238.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Terry J. Rosen acquired 19,800 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.18 per share, with a total value of $201,564.00. Following the completion of the acquisition, the chief executive officer now owns 2,554,160 shares in the company, valued at $26,001,348.80. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $7.28 on Tuesday. The stock has a market cap of $764.88 million, a P/E ratio of -2.31 and a beta of 1.54. 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 company’s 50 day moving average price is $10.37 and its two-hundred day moving average price is $13.91. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $29.38 million. On average, equities analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share 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.