Principal Financial Group Inc. Boosts Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Principal Financial Group Inc. boosted its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 27.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 334,981 shares of the company’s stock after purchasing an additional 71,464 shares during the quarter. Principal Financial Group Inc. owned approximately 0.32% of Arcus Biosciences worth $2,630,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in shares of Arcus Biosciences by 21.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company’s stock valued at $121,000 after purchasing an additional 2,700 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Arcus Biosciences by 21.9% during the first quarter. Teacher Retirement System of Texas now owns 18,227 shares of the company’s stock valued at $143,000 after buying an additional 3,275 shares during the last quarter. Amalgamated Bank grew its holdings in Arcus Biosciences by 18.4% during the 1st quarter. Amalgamated Bank now owns 18,797 shares of the company’s stock valued at $148,000 after buying an additional 2,922 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Arcus Biosciences by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company’s stock worth $144,000 after acquiring an additional 6,453 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Arcus Biosciences by 21.9% during the 1st quarter. State of Alaska Department of Revenue now owns 37,288 shares of the company’s stock worth $292,000 after acquiring an additional 6,688 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RCUS shares. Wells Fargo & Company decreased 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 note on Wednesday, May 7th. Barclays decreased their target price 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. The Goldman Sachs Group dropped their price target on Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wedbush restated an “outperform” rating and set a $33.00 price objective on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their target price on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

Arcus Biosciences Stock Down 2.9%

Shares of NYSE:RCUS opened at $9.15 on Friday. The firm has a market capitalization of $968.89 million, a PE ratio of -2.18 and a beta of 0.80. The business has a 50 day simple moving average of $8.97 and a two-hundred day simple moving average of $9.99. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. 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 (NYSE:RCUS) last posted 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 business had revenue of $28.00 million for 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%. Arcus Biosciences’s revenue was down 80.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

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.