NEOS Investment Management LLC Cuts Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

NEOS Investment Management LLC decreased its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,233 shares of the company’s stock after selling 14,705 shares during the period. NEOS Investment Management LLC’s holdings in Arcus Biosciences were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Arcus Biosciences during the 4th quarter worth $26,000. Point72 Hong Kong Ltd purchased a new stake in Arcus Biosciences during the third quarter worth about $47,000. US Bancorp DE boosted its stake in 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 acquiring an additional 6,615 shares during the last quarter. AXQ Capital LP purchased a new position in Arcus Biosciences in the fourth quarter valued at about $160,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Arcus Biosciences during the 4th quarter valued at approximately $207,000. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 3.7 %

Shares of RCUS opened at $7.87 on Tuesday. Arcus Biosciences, Inc. has a twelve month low of $7.56 and a twelve month high of $18.98. The stock has a market cap of $827.02 million, a PE ratio of -2.50 and a beta of 1.36. 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 business’s 50-day moving average price is $10.99 and its 200-day moving average price is $14.25.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RCUS. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Bank of America decreased their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $30.25.

Insider Buying and Selling

In related news, Director Yasunori Kaneko acquired 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 28,400 shares in the company, valued at approximately $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Terry J. Rosen bought 19,800 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the purchase, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at $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. 12.30% of the stock is currently owned by company insiders.

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.