Bank of New York Mellon Corp Acquires 30,290 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Bank of New York Mellon Corp increased its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arcus Biosciences by 2.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company's stock valued at $471,000 after buying an additional 843 shares during the period. JPMorgan Chase & Co. boosted its holdings in Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock valued at $668,000 after acquiring an additional 1,117 shares during the last quarter. R Squared Ltd acquired a new stake in Arcus Biosciences in the fourth quarter worth about $26,000. Handelsbanken Fonder AB raised its holdings in Arcus Biosciences by 11.2% during the 4th quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock worth $369,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Arcus Biosciences during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Arcus Biosciences Trading Down 0.3 %

Arcus Biosciences stock traded down $0.03 during mid-day trading on Thursday, hitting $9.07. 409,799 shares of the company's stock were exchanged, compared to its average volume of 713,971. The company's 50 day simple moving average is $11.89 and its 200-day simple moving average is $14.72. 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 firm has a market capitalization of $953.08 million, a P/E ratio of -2.89 and a beta of 1.36. Arcus Biosciences, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $19.11.

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Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data 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 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 anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Buying and Selling at Arcus Biosciences

In other news, Director Yasunori Kaneko bought 20,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.06 per share, with a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert C. Goeltz II sold 3,594 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 60,138 shares in the company, valued at $902,070. The trade was a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. 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. Morgan Stanley lowered their target price on shares of 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 target for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target 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.