Fmr LLC Raises Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Fmr LLC boosted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 6.9% in the third quarter, Holdings Channel.com reports. The fund owned 4,467,557 shares of the company’s stock after acquiring an additional 286,766 shares during the quarter. Fmr LLC’s holdings in Arcus Biosciences were worth $68,309,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after acquiring an additional 186,750 shares during the period. SG Americas Securities LLC increased its holdings in Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after purchasing an additional 120,650 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Arcus Biosciences during the 2nd quarter valued at $1,286,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Arcus Biosciences by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after buying an additional 59,536 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Arcus Biosciences during the 2nd quarter worth $590,000. Institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on RCUS shares. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Barclays increased their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, HC Wainwright reissued a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $34.00.

Arcus Biosciences Trading Up 1.1 %

NYSE RCUS opened at $17.29 on Friday. Arcus Biosciences, Inc. has a 12-month low of $13.52 and a 12-month high of $20.31. The company has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $16.02. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.58 billion, a P/E ratio of -5.49 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. The company had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.94) EPS. On average, analysts forecast that Arcus Biosciences, Inc. will post -3.2 earnings per share 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.