GAMMA Investing LLC Buys 15,466 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

GAMMA Investing LLC grew its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 1,399.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,571 shares of the company’s stock after buying an additional 15,466 shares during the period. GAMMA Investing LLC’s holdings in Arcus Biosciences were worth $1,300,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCUS. Principal Financial Group Inc. increased its position in shares of 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 buying an additional 7,906 shares during the period. Handelsbanken Fonder AB increased its position in shares of Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock worth $369,000 after purchasing an additional 2,500 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Arcus Biosciences by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 381,615 shares of the company’s stock worth $5,682,000 after purchasing an additional 30,290 shares during the last quarter. US Bancorp DE increased its position in shares of Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Arcus Biosciences by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,623 shares of the company’s stock worth $8,631,000 after purchasing an additional 12,644 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Stock Down 1.1%

Shares of NYSE RCUS opened at $9.25 on Monday. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm’s 50 day simple moving average is $8.64 and its two-hundred day simple moving average is $11.20. The stock has a market capitalization of $979.44 million, a P/E ratio of -2.94 and a beta of 0.83.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share (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 the consensus estimate of $38.61 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was down 80.7% on a year-over-year basis. As a group, analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

RCUS has been the topic of several research analyst reports. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company decreased their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Barclays decreased their price objective on shares of 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, Wedbush reiterated an “outperform” rating and set a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences has a consensus rating of “Moderate Buy” and an average price target of $24.13.

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.