Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Arcus Biosciences, Inc. (NYSE:RCUS)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 64,043 shares of the company’s stock, valued at approximately $954,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Arcus Biosciences at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RCUS. Quest Partners LLC grew its stake in shares of Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after buying an additional 9,408 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Arcus Biosciences by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after purchasing an additional 186,750 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Arcus Biosciences during the 3rd quarter valued at $244,000. Massachusetts Financial Services Co. MA lifted its holdings in Arcus Biosciences by 39.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock valued at $1,237,000 after purchasing an additional 22,716 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after purchasing an additional 59,536 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the purchase, the director now owns 28,400 shares of the company’s stock, valued at $285,704. This represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Arcus Biosciences Stock Down 0.4 %

RCUS opened at $9.05 on Friday. Arcus Biosciences, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $19.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company has a market capitalization of $951.81 million, a P/E ratio of -2.87 and a beta of 1.36. The stock has a fifty day moving average of $11.77 and a 200-day moving average of $14.68.

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. The company had revenue of $36.00 million during the quarter, compared to the consensus estimate 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, equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RCUS shares. Morgan Stanley cut their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Bank of America cut their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.