Allspring Global Investments Holdings LLC Has $144,000 Stake in Arcus Biosciences, Inc. (NYSE:RCUS)

Allspring Global Investments Holdings LLC boosted its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 54.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,405 shares of the company’s stock after purchasing an additional 6,453 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arcus Biosciences were worth $144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RCUS. Bank of New York Mellon Corp increased its holdings in 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 valued at $5,682,000 after purchasing an additional 30,290 shares during the period. US Bancorp DE increased its holdings in Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after purchasing an additional 6,615 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Arcus Biosciences by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,623 shares of the company’s stock valued at $8,631,000 after purchasing an additional 12,644 shares during the period. Raymond James Financial Inc. bought a new stake in Arcus Biosciences during the fourth quarter valued at $531,000. Finally, Amundi boosted its position in Arcus Biosciences by 137.0% during the fourth quarter. Amundi now owns 27,030 shares of the company’s stock valued at $403,000 after acquiring an additional 15,624 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company cut their price target 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. Morgan Stanley cut their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. The Goldman Sachs Group cut their price target 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. Finally, Barclays cut their price target 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. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

Arcus Biosciences Price Performance

RCUS stock opened at $9.35 on Friday. The stock has a market capitalization of $990.07 million, a PE ratio of -2.23 and a beta of 0.80. The company’s 50-day moving average is $8.87 and its 200-day moving average is $10.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.37 and a quick ratio of 5.37. 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 quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.12). The company had revenue of $28.00 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. Equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Arcus Biosciences 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.