TimesSquare Capital Management LLC Sells 107,730 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

TimesSquare Capital Management LLC decreased its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 719,540 shares of the company’s stock after selling 107,730 shares during the quarter. TimesSquare Capital Management LLC owned about 1.01% of Arcus Biosciences worth $20,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCUS. Victory Capital Management Inc. increased its holdings in shares of Arcus Biosciences by 35.1% during the first quarter. Victory Capital Management Inc. now owns 1,530,348 shares of the company’s stock valued at $42,972,000 after acquiring an additional 397,786 shares in the last quarter. Asymmetry Capital Management L.P. increased its holdings in shares of Arcus Biosciences by 170.0% during the fourth quarter. Asymmetry Capital Management L.P. now owns 348,408 shares of the company’s stock valued at $9,045,000 after acquiring an additional 219,366 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at approximately $5,057,000. BlackRock Inc. increased its holdings in shares of Arcus Biosciences by 4.3% during the first quarter. BlackRock Inc. now owns 3,393,646 shares of the company’s stock valued at $95,295,000 after acquiring an additional 138,555 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in shares of Arcus Biosciences by 523.5% during the first quarter. Rafferty Asset Management LLC now owns 91,402 shares of the company’s stock valued at $2,567,000 after acquiring an additional 76,742 shares in the last quarter. Hedge funds and other institutional investors own 56.34% of the company’s stock.

In other news, COO Jennifer Jarrett sold 8,661 shares of the company’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $35.03, for a total transaction of $303,394.83. Following the transaction, the chief operating officer now owns 116,973 shares of the company’s stock, valued at approximately $4,097,564.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Grossman sold 2,127 shares of the company’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $35.03, for a total value of $74,508.81. Following the transaction, the insider now directly owns 10,850 shares in the company, valued at approximately $380,075.50. The disclosure for this sale can be found here. In the last three months, insiders sold 11,832 shares of company stock worth $403,910. Insiders own 19.71% of the company’s stock.

RCUS stock opened at $24.88 on Friday. The stock has a fifty day simple moving average of $29.41. Arcus Biosciences, Inc. has a 1-year low of $16.69 and a 1-year high of $42.36. The stock has a market capitalization of $1.77 billion, a PE ratio of -8.89 and a beta of 1.13.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, May 4th. The company reported ($1.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.22). Arcus Biosciences had a negative return on equity of 31.34% and a negative net margin of 196.76%. The business had revenue of $9.46 million during the quarter, compared to analysts’ expectations of $18.80 million. As a group, equities analysts predict that Arcus Biosciences, Inc. will post -3 earnings per share for the current year.

Several equities research analysts have recently commented on RCUS shares. SVB Leerink decreased their price objective on Arcus Biosciences from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, February 25th. Mizuho lifted their target price on Arcus Biosciences from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. Barclays lifted their target price on Arcus Biosciences from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, February 25th. Finally, Zacks Investment Research cut Arcus Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 11th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $51.22.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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Institutional Ownership by Quarter for Arcus Biosciences (NYSE:RCUS)

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