Nordea Investment Management AB Purchases 53,944 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Nordea Investment Management AB boosted its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUSFree Report) by 26.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,372 shares of the company’s stock after purchasing an additional 53,944 shares during the period. Nordea Investment Management AB owned 0.29% of Arcus Biosciences worth $4,892,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Arcus Biosciences during the 4th quarter worth about $31,000. Public Employees Retirement System of Ohio acquired a new position in Arcus Biosciences during the third quarter worth approximately $36,000. Spartan Fund Management Inc. bought a new stake in Arcus Biosciences in the first quarter valued at approximately $38,000. Cape Investment Advisory Inc. bought a new stake in Arcus Biosciences in the fourth quarter valued at approximately $77,000. Finally, Quest Partners LLC acquired a new stake in shares of Arcus Biosciences in the fourth quarter valued at approximately $77,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial decreased their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Barclays dropped their price objective on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup lifted their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, July 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.11.

Check Out Our Latest Report on Arcus Biosciences

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $14.09 on Wednesday. The firm has a 50 day simple moving average of $15.86 and a 200 day simple moving average of $16.70. Arcus Biosciences, Inc. has a one year low of $12.95 and a one year high of $25.47.

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

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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