Wells Fargo & Company MN Has $575,000 Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Wells Fargo & Company MN grew its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 105.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,618 shares of the company’s stock after purchasing an additional 19,865 shares during the period. Wells Fargo & Company MN’s holdings in Arcus Biosciences were worth $575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC boosted its position in Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after acquiring an additional 39,015 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Arcus Biosciences by 2.5% during the fourth quarter. Nordea Investment Management AB now owns 218,930 shares of the company’s stock worth $3,245,000 after purchasing an additional 5,246 shares during the period. R Squared Ltd acquired a new stake in shares of Arcus Biosciences during the fourth quarter worth approximately $26,000. Finally, Principal Financial Group Inc. grew its position in Arcus Biosciences by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 263,517 shares of the company’s stock valued at $3,924,000 after purchasing an additional 7,906 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RCUS shares. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Bank of America reduced their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Barclays dropped their target price on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $28.38.

Arcus Biosciences Stock Up 5.8 %

Shares of Arcus Biosciences stock opened at $9.12 on Friday. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $18.98. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $8.58 and a two-hundred day moving average price of $12.75. The stock has a market capitalization of $958.86 million, a P/E ratio of -2.90 and a beta of 1.54.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. Equities analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Buying and Selling at Arcus Biosciences

In related news, CEO Terry J. Rosen bought 19,800 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the transaction, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. The trade was a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.30% 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.