Rhumbline Advisers Increases Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Rhumbline Advisers increased its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 14.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,909 shares of the company’s stock after buying an additional 23,645 shares during the period. Rhumbline Advisers owned 0.17% of Arcus Biosciences worth $1,436,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Arcus Biosciences by 2.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock worth $506,000 after buying an additional 833 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Arcus Biosciences by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock worth $223,000 after buying an additional 2,410 shares in the last quarter. Handelsbanken Fonder AB raised its position in Arcus Biosciences by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock worth $369,000 after acquiring an additional 2,500 shares during the period. MetLife Investment Management LLC raised its position in Arcus Biosciences by 8.1% during the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company’s stock worth $499,000 after acquiring an additional 2,521 shares during the period. Finally, WINTON GROUP Ltd raised its position in Arcus Biosciences by 5.4% during the fourth quarter. WINTON GROUP Ltd now owns 72,310 shares of the company’s stock worth $1,077,000 after acquiring an additional 3,730 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $8.53 on Thursday. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $18.98. The stock has a market cap of $903.67 million, a P/E ratio of -2.04 and a beta of 0.83. The company has a 50-day moving average price of $8.71 and a 200 day moving average price of $11.12. The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.09.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data 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). The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. Arcus Biosciences’s revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Bank of America reduced their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. 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 company’s stock. According to MarketBeat.com, Arcus Biosciences has a consensus rating of “Moderate Buy” and an average price target of $24.13.

Arcus Biosciences Company Profile

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.