Allspring Global Investments Holdings LLC Purchases 6,453 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Allspring Global Investments Holdings LLC lifted its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 54.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,405 shares of the company’s stock after acquiring 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 also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock valued at $506,000 after acquiring an additional 833 shares during the period. Teacher Retirement System of Texas raised 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 during the last quarter. MetLife Investment Management LLC raised its holdings 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 buying an additional 2,521 shares during the last quarter. WINTON GROUP Ltd raised its holdings 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 buying an additional 3,730 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in Arcus Biosciences by 18.6% during the first quarter. Yousif Capital Management LLC now owns 24,829 shares of the company’s stock worth $195,000 after buying an additional 3,893 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $9.35 on Friday. The firm has a 50-day moving average of $8.87 and a 200-day moving average of $10.16. The company has a market cap of $990.07 million, a P/E 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. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98.

Arcus Biosciences (NYSE:RCUS) last announced 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 analysts’ expectations of $38.61 million. Arcus Biosciences had a negative net margin of 258.94% and a negative return on equity of 70.58%. The business’s revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCUS. Wedbush restated an “outperform” rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Barclays lowered 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. The Goldman Sachs Group lowered their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company lowered 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. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.29.

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.