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

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

Several other institutional investors have also bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in shares of Arcus Biosciences by 223.2% in the 1st quarter. Acadian Asset Management LLC now owns 8,598 shares of the company’s stock worth $241,000 after purchasing an additional 5,938 shares in the last quarter. Boston Private Wealth LLC purchased a new position in shares of Arcus Biosciences in the 1st quarter worth $562,000. Russell Investments Group Ltd. purchased a new position in shares of Arcus Biosciences in the 1st quarter worth $314,000. Rafferty Asset Management LLC boosted its stake in shares of Arcus Biosciences by 523.5% in the 1st quarter. Rafferty Asset Management LLC now owns 91,402 shares of the company’s stock worth $2,567,000 after buying an additional 76,742 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Arcus Biosciences in the 1st quarter worth $237,000. 56.34% of the stock is owned by institutional investors and hedge funds.

In related news, Director Kathryn E. Falberg acquired 20,000 shares of Arcus Biosciences stock in a transaction on Wednesday, March 31st. The shares were bought at an average cost of $28.35 per share, with a total value of $567,000.00. Following the completion of the purchase, the director now directly owns 80,504 shares of the company’s stock, valued at approximately $2,282,288.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Jarrett sold 1,044 shares of the business’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $24.91, for a total value of $26,006.04. The disclosure for this sale can be found here. Insiders have sold 11,832 shares of company stock worth $403,910 over the last three months. 19.71% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on RCUS. Mizuho raised their price target on Arcus Biosciences from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. Zacks Investment Research downgraded Arcus Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 11th. 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, SVB Leerink lowered their price objective on Arcus Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, February 25th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Arcus Biosciences currently has an average rating of “Buy” and a consensus price target of $51.22.

Shares of RCUS stock opened at $24.88 on Friday. Arcus Biosciences, Inc. has a 12-month low of $16.69 and a 12-month high of $42.36. The stock has a 50-day moving average price of $29.41. The company 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 issued its earnings results on Tuesday, May 4th. The company reported ($1.08) earnings per share (EPS) 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 firm had revenue of $9.46 million during the quarter, compared to the consensus estimate of $18.80 million. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3 earnings per share for the current fiscal year.

Arcus Biosciences Profile

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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