Amalgamated Bank Boosts Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Amalgamated Bank raised its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 18.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,797 shares of the company’s stock after buying an additional 2,922 shares during the quarter. Amalgamated Bank’s holdings in Arcus Biosciences were worth $148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCUS. Yousif Capital Management LLC raised its position in shares of Arcus Biosciences by 18.6% during the 1st quarter. Yousif Capital Management LLC now owns 24,829 shares of the company’s stock valued at $195,000 after acquiring an additional 3,893 shares in the last quarter. Gilead Sciences Inc. acquired a new stake in shares of Arcus Biosciences during the 4th quarter valued at approximately $447,610,000. Norges Bank acquired a new stake in shares of Arcus Biosciences during the 4th quarter valued at approximately $507,000. Raymond James Financial Inc. acquired a new stake in shares of Arcus Biosciences during the 4th quarter valued at approximately $531,000. Finally, Rhumbline Advisers raised its position in shares of Arcus Biosciences by 14.8% during the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock valued at $1,436,000 after acquiring an additional 23,645 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 2.0%

Shares of Arcus Biosciences stock opened at $9.35 on Friday. The firm has a market capitalization of $990.07 million, a PE ratio of -2.23 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.37 and a quick ratio of 5.37. The company’s fifty day moving average price is $8.87 and its two-hundred day moving average price is $10.20. Arcus Biosciences, Inc. has a 52-week low of $6.50 and a 52-week high of $18.98.

Arcus Biosciences (NYSE:RCUS) last issued 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). The firm had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. Arcus Biosciences had a negative net margin of 258.94% and a negative return on equity of 70.58%. The firm’s revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. On average, analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analyst Upgrades and Downgrades

RCUS has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group lowered their price objective on Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company lowered their price objective on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Barclays decreased their price target on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.29.

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.