Northern Trust Corp Has $7.92 Million Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Northern Trust Corp boosted its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 532,099 shares of the company’s stock after buying an additional 22,181 shares during the period. Northern Trust Corp’s holdings in Arcus Biosciences were worth $7,923,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RCUS. R Squared Ltd acquired a new position in Arcus Biosciences in the fourth quarter valued at approximately $26,000. US Bancorp DE raised its holdings in Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares during the period. PEAK6 LLC acquired a new stake in Arcus Biosciences in the fourth quarter worth $149,000. AXQ Capital LP acquired a new stake in Arcus Biosciences in the fourth quarter worth $160,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Arcus Biosciences in the fourth quarter worth $207,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on RCUS. Morgan Stanley cut their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. The Goldman Sachs Group cut their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company cut their target price on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Finally, Bank of America dropped their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Arcus Biosciences has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Arcus Biosciences Stock Performance

RCUS opened at $8.56 on Monday. 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 company’s fifty day moving average price is $8.28 and its two-hundred day moving average price is $12.09. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98. The company has a market cap of $906.38 million, a price-to-earnings ratio of -2.72 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The firm had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $38.61 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business’s revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcus Biosciences news, Director Yasunori Kaneko bought 20,000 shares of Arcus Biosciences stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This trade represents a 238.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Terry J. Rosen bought 19,800 shares of Arcus Biosciences 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 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 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 corporate insiders.

About Arcus Biosciences

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.