Allspring Global Investments Holdings LLC Purchases 2,516 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Allspring Global Investments Holdings LLC raised its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,850 shares of the company’s stock after buying an additional 2,516 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arcus Biosciences were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RCUS. Citigroup Inc. lifted its position in shares of Arcus Biosciences by 20.8% during the third quarter. Citigroup Inc. now owns 145,729 shares of the company’s stock valued at $2,616,000 after purchasing an additional 25,083 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arcus Biosciences by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock worth $80,664,000 after buying an additional 61,040 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Arcus Biosciences in the 3rd quarter worth approximately $1,412,000. Seven Eight Capital LP bought a new position in shares of Arcus Biosciences in the third quarter valued at approximately $292,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Arcus Biosciences during the third quarter valued at approximately $686,000. 92.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCUS. Mizuho cut their price objective on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Wedbush restated an “outperform” rating and set a $30.00 price target on shares of Arcus Biosciences in a research report on Thursday, February 22nd. Finally, Truist Financial restated a “buy” rating and set a $50.00 price objective on shares of Arcus Biosciences in a report on Monday, March 25th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.25.

Arcus Biosciences Stock Up 5.6 %

NYSE RCUS opened at $15.55 on Friday. The company has a market cap of $1.41 billion, a PE ratio of -3.75 and a beta of 0.81. The firm’s 50-day simple moving average is $17.48 and its two-hundred day simple moving average is $16.61. Arcus Biosciences, Inc. has a 52 week low of $12.95 and a 52 week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.01. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The company had revenue of $31.00 million for the quarter, compared to analysts’ expectations of $28.30 million. During the same period in the prior year, the company posted ($0.93) EPS. Arcus Biosciences’s revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.59 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jennifer Jarrett sold 11,551 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.55, for a total transaction of $202,720.05. Following the sale, the chief operating officer now directly owns 215,253 shares in the company, valued at approximately $3,777,690.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Jennifer Jarrett sold 11,551 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total transaction of $202,720.05. Following the completion of the transaction, the chief operating officer now owns 215,253 shares of the company’s stock, valued at $3,777,690.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $21.00 per share, for a total transaction of $319,999,995.00. Following the completion of the purchase, the insider now directly owns 30,061,124 shares in the company, valued at $631,283,604. The disclosure for this purchase can be found here. Insiders have sold a total of 53,455 shares of company stock worth $1,014,779 over the last 90 days. Corporate insiders own 13.80% of the company’s stock.

About Arcus Biosciences

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.