Hilltop Holdings Inc. Buys New Stake in Arcus Biosciences Inc (RCUS)
Hilltop Holdings Inc. bought a new stake in shares of Arcus Biosciences Inc (NYSE:RCUS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,075 shares of the company’s stock, valued at approximately $136,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Foresite Capital Management III LLC bought a new position in shares of Arcus Biosciences in the first quarter worth approximately $42,080,000. Foresite Capital Management IV LLC bought a new position in shares of Arcus Biosciences in the first quarter worth approximately $10,036,000. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Arcus Biosciences in the first quarter worth approximately $9,651,000. BlackRock Inc. boosted its position in shares of Arcus Biosciences by 1,606.3% in the second quarter. BlackRock Inc. now owns 335,270 shares of the company’s stock worth $4,104,000 after purchasing an additional 315,621 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of Arcus Biosciences in the first quarter worth approximately $4,643,000. Institutional investors own 39.02% of the company’s stock.
In related news, CEO Terry J. Rosen bought 18,607 shares of the stock in a transaction dated Tuesday, August 28th. The shares were purchased at an average price of $15.07 per share, with a total value of $280,407.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Terry J. Rosen bought 9,929 shares of the stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of $11.87 per share, for a total transaction of $117,857.23. The disclosure for this purchase can be found here. Insiders bought 85,117 shares of company stock worth $1,118,707 in the last three months.
Arcus Biosciences (NYSE:RCUS) last released its earnings results on Monday, August 6th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.08. The company had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $1.30 million. research analysts expect that Arcus Biosciences Inc will post -1.81 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd.
Arcus Biosciences Company Profile
Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.
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