Corebridge Financial Inc. Sells 2,258 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Corebridge Financial Inc. lowered its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 7.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,935 shares of the company’s stock after selling 2,258 shares during the quarter. Corebridge Financial Inc.’s holdings in Arcus Biosciences were worth $431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in Arcus Biosciences in the fourth quarter worth $26,000. US Bancorp DE boosted its position in shares of Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares in the last quarter. AXQ Capital LP purchased a new position in Arcus Biosciences during the 4th quarter worth $160,000. KLP Kapitalforvaltning AS acquired a new position in Arcus Biosciences during the 4th quarter valued at about $207,000. Finally, Teacher Retirement System of Texas raised its stake in Arcus Biosciences by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after buying an additional 2,410 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insider Activity at Arcus Biosciences

In related news, Director Yasunori Kaneko purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, with a total value of $201,200.00. Following the acquisition, the director now owns 28,400 shares in the company, valued at $285,704. The trade was a 238.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Terry J. Rosen acquired 19,800 shares of Arcus Biosciences stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.18 per share, with a total value of $201,564.00. Following the completion of the transaction, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. This trade represents a 0.78 % 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 Stock Performance

NYSE RCUS opened at $7.94 on Thursday. The firm has a market capitalization of $834.80 million, a P/E ratio of -2.52 and a beta of 1.54. The stock has a 50-day simple moving average of $9.92 and a two-hundred day simple moving average of $13.71. 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, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $29.38 million. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on RCUS. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Bank of America lowered their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley lowered their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $30.25.

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.