Raymond James Financial Inc. Takes $531,000 Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Raymond James Financial Inc. purchased a new stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 35,662 shares of the company's stock, valued at approximately $531,000.

A number of other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company's stock valued at $8,669,000 after purchasing an additional 59,536 shares during the period. Jane Street Group LLC boosted its holdings in shares of Arcus Biosciences by 59.8% during the third quarter. Jane Street Group LLC now owns 217,041 shares of the company's stock valued at $3,319,000 after acquiring an additional 81,193 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of 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 acquiring an additional 11,827 shares during the last quarter. Barclays PLC increased its holdings in shares of Arcus Biosciences by 49.0% in the 3rd quarter. Barclays PLC now owns 118,693 shares of the company's stock worth $1,816,000 after acquiring an additional 39,015 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Arcus Biosciences by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock valued at $668,000 after purchasing an additional 1,117 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have commented on RCUS shares. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their target price for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Bank of America decreased 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. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $30.25.

Insider Buying and Selling

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

Arcus Biosciences Price Performance

RCUS stock traded up $0.59 during trading hours on Friday, hitting $8.09. 1,197,078 shares of the stock traded hands, compared to its average volume of 775,385. The stock has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $13.60. The company has a market cap of $850.04 million, a P/E ratio of -2.57 and a beta of 1.54. 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, Inc. has a one year low of $6.50 and a one year high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) 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 company had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Equities analysts forecast 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.