Lazard Asset Management LLC Has $93,000 Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Lazard Asset Management LLC grew its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 3,321.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,261 shares of the company’s stock after buying an additional 6,078 shares during the period. Lazard Asset Management LLC’s holdings in Arcus Biosciences were worth $93,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gilead Sciences Inc. acquired a new position in shares of Arcus Biosciences in the fourth quarter valued at about $447,610,000. Barclays PLC grew its position in shares of Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after purchasing an additional 39,015 shares in the last quarter. Norges Bank bought a new position in shares of Arcus Biosciences during the fourth quarter worth approximately $507,000. US Bancorp DE raised its position in shares of Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after buying an additional 6,615 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Arcus Biosciences in the fourth quarter valued at approximately $531,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Terry J. Rosen bought 19,800 shares of the 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 transaction, the chief executive officer now directly owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This trade represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yasunori Kaneko bought 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 acquisition, 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 disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Arcus Biosciences Price Performance

RCUS stock opened at $9.05 on Monday. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. 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 stock has a market cap of $957.73 million, a price-to-earnings ratio of -2.87 and a beta of 0.88. The company has a 50 day simple moving average of $8.23 and a 200 day simple moving average of $11.85.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. During the same quarter last year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was down 80.7% on a year-over-year basis. Research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of recent research reports. Barclays lowered their price objective on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Bank of America dropped 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 upgraded shares of 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. Wedbush reissued an “outperform” rating and issued a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. Finally, Morgan Stanley cut their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.67.

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.