Victory Capital Management Inc. Sells 2,764 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Victory Capital Management Inc. lowered its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 45,718 shares of the company’s stock after selling 2,764 shares during the period. Victory Capital Management Inc.’s holdings in Arcus Biosciences were worth $681,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in Arcus Biosciences during the fourth quarter worth about $26,000. Point72 Hong Kong Ltd bought a new position in Arcus Biosciences during the third quarter worth about $47,000. US Bancorp DE boosted its holdings in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after acquiring an additional 6,615 shares during the period. Quest Partners LLC boosted its holdings in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after acquiring an additional 9,408 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Arcus Biosciences during the third quarter worth approximately $244,000. Institutional investors own 92.89% of the company’s stock.

Insider Activity at Arcus Biosciences

In other news, CEO Terry J. Rosen acquired 19,800 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Bank of America reduced 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. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Trading Down 1.4 %

Shares of RCUS stock opened at $8.95 on Friday. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $940.46 million, a P/E ratio of -2.84 and a beta of 1.36. The stock has a 50 day simple moving average of $11.66 and a 200 day simple moving average of $14.62. Arcus Biosciences, Inc. has a 1 year low of $8.82 and a 1 year high of $19.11.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal 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.