Arcus Biosciences, Inc. (NYSE:RCUS) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 160,145 shares of the company’s stock after acquiring an additional 19,232 shares during the quarter. Bank of America Corp DE owned 0.18% of Arcus Biosciences worth $2,385,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RCUS. BNP Paribas Financial Markets increased its stake in Arcus Biosciences by 79.6% during the 4th quarter. BNP Paribas Financial Markets now owns 20,341 shares of the company’s stock worth $303,000 after buying an additional 9,016 shares during the period. Ameriprise Financial Inc. increased its stake in Arcus Biosciences by 17.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company’s stock worth $23,044,000 after buying an additional 228,325 shares during the period. Algert Global LLC increased its position in shares of Arcus Biosciences by 59.6% in the 4th quarter. Algert Global LLC now owns 180,122 shares of the company’s stock valued at $2,682,000 after purchasing an additional 67,275 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Arcus Biosciences in the 4th quarter valued at $23,857,000. Finally, PDT Partners LLC raised its holdings in shares of Arcus Biosciences by 43.5% in the 4th quarter. PDT Partners LLC now owns 125,752 shares of the company’s stock valued at $1,872,000 after purchasing an additional 38,116 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of analyst reports. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Barclays reduced their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Finally, Bank of America dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and an average target price of $25.67.

Arcus Biosciences Stock Up 3.1%

Shares of NYSE:RCUS opened at $9.21 on Tuesday. The stock has a market cap of $974.67 million, a P/E ratio of -2.92 and a beta of 0.88. The firm has a fifty day moving average price of $8.27 and a 200 day moving average price of $11.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. During the same quarter last year, the business posted ($0.05) EPS. The firm’s revenue was down 80.7% on a year-over-year basis. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

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.