Arcus Biosciences, Inc. (NYSE:RCUS) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 94.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,510 shares of the company's stock after selling 1,228,444 shares during the period. Alliancebernstein L.P. owned about 0.08% of Arcus Biosciences worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Arcus Biosciences during the 4th quarter valued at $26,000. US Bancorp DE increased its position in shares of Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after purchasing an additional 6,615 shares during the last quarter. AXQ Capital LP bought a new position in shares of Arcus Biosciences during the 4th quarter valued at about $160,000. KLP Kapitalforvaltning AS bought a new position in Arcus Biosciences during the 4th quarter worth approximately $207,000. Finally, Teacher Retirement System of Texas grew its position 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 worth $223,000 after acquiring an additional 2,410 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of recent analyst reports. Bank of America cut their price objective on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Barclays cut their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $28.38.

Arcus Biosciences Stock Up 1.8 %

NYSE:RCUS traded up $0.15 during mid-day trading on Thursday, hitting $8.26. The stock had a trading volume of 117,578 shares, compared to its average volume of 796,404. The stock has a 50-day simple moving average of $8.94 and a two-hundred day simple moving average of $13.19. The company has a market capitalization of $868.44 million, a PE ratio of -2.60 and a beta of 1.54. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $18.98. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $29.38 million. On average, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Transactions at Arcus Biosciences

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

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.