Tower Research Capital LLC TRC Reduces Stake in Arcus Biosciences, Inc. (NYSE:RCUS)

Tower Research Capital LLC TRC lowered its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 47.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,514 shares of the company’s stock after selling 2,270 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Arcus Biosciences were worth $48,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BluePath Capital Management LLC purchased a new stake in Arcus Biosciences in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC purchased a new stake in Arcus Biosciences in the 4th quarter worth approximately $31,000. Public Employees Retirement System of Ohio purchased a new stake in Arcus Biosciences in the 3rd quarter worth approximately $36,000. Strs Ohio purchased a new stake in Arcus Biosciences in the 3rd quarter worth approximately $43,000. Finally, Quest Partners LLC purchased a new stake in Arcus Biosciences in the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RCUS shares. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, February 22nd. Mizuho lowered their target price on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Finally, Truist Financial restated a “buy” rating and issued a $50.00 target price on shares of Arcus Biosciences in a research note on Monday, March 25th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.25.

Insider Activity at Arcus Biosciences

In related news, President Juan C. Jaen sold 3,900 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.06, for a total transaction of $78,234.00. Following the completion of the transaction, the president now owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Arcus Biosciences news, COO Jennifer Jarrett sold 13,449 shares of Arcus Biosciences stock in a transaction on Monday, March 18th. The stock was sold at an average price of $17.92, for a total value of $241,006.08. Following the completion of the sale, the chief operating officer now owns 226,804 shares of the company’s stock, valued at approximately $4,064,327.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the sale, the president now directly owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. Insiders sold a total of 53,455 shares of company stock valued at $1,014,779 in the last 90 days. Corporate insiders own 13.80% of the company’s stock.

Arcus Biosciences Price Performance

RCUS stock traded down $0.39 on Tuesday, reaching $15.24. 553,387 shares of the company traded hands, compared to its average volume of 794,020. Arcus Biosciences, Inc. has a one year low of $12.95 and a one year high of $25.47. The company has a market cap of $1.39 billion, a P/E ratio of -3.67 and a beta of 0.81. The firm has a fifty day simple moving average of $17.46 and a 200-day simple moving average of $16.61.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.01. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The company had revenue of $31.00 million during the quarter, compared to analyst estimates of $28.30 million. During the same quarter last year, the company earned ($0.93) EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.59 EPS for the current year.

Arcus Biosciences Company 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.