Hudson Bay Capital Management LP Reduces Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Hudson Bay Capital Management LP cut its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,000 shares of the company’s stock after selling 5,000 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Arcus Biosciences were worth $2,531,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC lifted its position in Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company’s stock valued at $1,816,000 after purchasing an additional 39,015 shares during the period. JPMorgan Chase & Co. lifted its position in Arcus Biosciences by 2.6% during the third 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 period. R Squared Ltd acquired a new position in Arcus Biosciences during the fourth quarter valued at $26,000. Principal Financial Group Inc. lifted its position in Arcus Biosciences by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 263,517 shares of the company’s stock valued at $3,924,000 after purchasing an additional 7,906 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Arcus Biosciences by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock valued at $369,000 after purchasing an additional 2,500 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RCUS. Wells Fargo & Company decreased their target price on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Barclays decreased their target price on shares of Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Bank of America decreased their target price 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.67.

Arcus Biosciences Trading Down 1.6%

Shares of Arcus Biosciences stock opened at $8.66 on Wednesday. The firm has a 50-day simple moving average of $8.35 and a two-hundred day simple moving average of $12.28. The company has a market cap of $916.96 million, a P/E ratio of -2.75 and a beta of 0.88. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.12). The firm had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company’s revenue was down 80.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. As a group, equities analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Insider Transactions at Arcus Biosciences

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

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.