US Bancorp DE Boosts Stake in Arcus Biosciences, Inc. (NYSE:RCUS)

US Bancorp DE raised its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 186.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,756 shares of the company’s stock after buying an additional 12,869 shares during the quarter. US Bancorp DE’s holdings in Arcus Biosciences were worth $155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GSA Capital Partners LLP grew its position in Arcus Biosciences by 174.3% during the first quarter. GSA Capital Partners LLP now owns 196,251 shares of the company’s stock worth $1,541,000 after buying an additional 124,701 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Arcus Biosciences by 7.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,748 shares of the company’s stock worth $281,000 after buying an additional 2,524 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Arcus Biosciences during the first quarter worth about $138,000. Y Intercept Hong Kong Ltd purchased a new position in Arcus Biosciences during the first quarter worth about $247,000. Finally, Victory Capital Management Inc. grew its position in Arcus Biosciences by 36.4% during the first quarter. Victory Capital Management Inc. now owns 62,340 shares of the company’s stock worth $489,000 after buying an additional 16,622 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Up 4.8%

NYSE RCUS opened at $10.39 on Friday. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $9.17 and a 200-day moving average of $9.32. The firm has a market cap of $1.11 billion, a PE ratio of -3.28 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.03. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%. The company had revenue of $160.00 million during the quarter, compared to analyst estimates of $32.86 million. During the same quarter in the previous year, the company posted ($1.02) EPS. Arcus Biosciences’s revenue for the quarter was up 310.3% on a year-over-year basis. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on RCUS shares. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Wall Street Zen raised Arcus Biosciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company dropped their price target on Arcus Biosciences from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Morgan Stanley dropped their price target 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. Finally, 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 note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.14.

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.