he just wants to be out of his cage and to be with you... Best thing to do is let him out unless you have a reason why he needs to stay in his cage. If your home or the room he's in is set up to be bird safe, just let him out while you're in there with him and give him some perches or a play gym to play on. We have wooden dowels hung from the ceiling by plastic chains and then we hang toys on these perches... even a coat hanger hung on the perch will give him hours of fun, but we'll hang small swings or other cage toys off these perches as well as a coat hanger or 2, or even some plastic chain for them to dangle and swing on etc.
This is in our bedroom, we just put in some of those screw anchors and hung the chains from them and connected the wooden dowels from the chains, the orb toy is one I made about a year ago out of embroidery hoops wrapped with fleece strips, and the neck tie hanger we got from walmart... all the birds love to play on that one...


But you get the idea... Birdiez Love Toyz...
If he does have to be in his cage you might want to put some more toys in there for him or get him some new toys. The pacing and chewing on the bars and all is a definite sign that he's bored or he's desparately trying to get your attention. best thing I can recommend is to let him out as much as you can, just make sure the room is bird safe and put him back in the cage whenever you leave the room.