PNC Financial Services Group Inc. Trims Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

PNC Financial Services Group Inc. decreased its position in Arcus Biosciences, Inc. (NYSE:RCUSFree Report) by 61.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,507 shares of the company’s stock after selling 2,394 shares during the period. PNC Financial Services Group Inc.’s holdings in Arcus Biosciences were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Arcus Biosciences by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock valued at $89,402,000 after buying an additional 186,898 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Arcus Biosciences by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 247,664 shares of the company’s stock valued at $4,730,000 after buying an additional 42,555 shares during the last quarter. Pennant Investors LP purchased a new position in shares of Arcus Biosciences during the 4th quarter valued at about $453,000. NEOS Investment Management LLC purchased a new position in shares of Arcus Biosciences during the 4th quarter valued at about $213,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Arcus Biosciences during the 4th quarter valued at about $1,201,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 2.0 %

RCUS stock opened at $13.84 on Tuesday. Arcus Biosciences, Inc. has a 12-month low of $12.95 and a 12-month high of $25.47. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -4.45 and a beta of 0.90. The business’s 50-day moving average is $15.88 and its 200 day moving average is $16.73.

Arcus Biosciences (NYSE:RCUSGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.92. Arcus Biosciences had a negative return on equity of 40.98% and a negative net margin of 97.47%. The company had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $28.77 million. During the same period in the previous year, the firm posted ($1.09) EPS. Arcus Biosciences’s revenue was up 480.0% compared to the same quarter last year. As a group, equities analysts forecast that Arcus Biosciences, Inc. will post -2.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RCUS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Friday. Truist Financial reduced their price objective on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, May 9th. Barclays cut their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Citigroup lifted their price target on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.11.

View Our Latest Stock Report on Arcus Biosciences

Arcus Biosciences Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arcus Biosciences (NYSE:RCUS)

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