Swiss National Bank Boosts Stake in Arcus Biosciences, Inc. $RCUS

Swiss National Bank increased its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 35.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 133,596 shares of the company’s stock after purchasing an additional 35,300 shares during the period. Swiss National Bank owned approximately 0.13% of Arcus Biosciences worth $1,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RCUS. Allspring Global Investments Holdings LLC boosted its position 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 valued at $144,000 after buying an additional 6,453 shares during the period. Yousif Capital Management LLC boosted its position in Arcus Biosciences by 18.6% in the 1st quarter. Yousif Capital Management LLC now owns 24,829 shares of the company’s stock valued at $195,000 after buying an additional 3,893 shares during the period. Amalgamated Bank boosted its position in Arcus Biosciences by 18.4% in 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 during the period. Raymond James Financial Inc. purchased a new position in Arcus Biosciences in the 4th quarter valued at approximately $531,000. Finally, Rhumbline Advisers boosted its position in Arcus Biosciences by 14.8% in the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock valued at $1,436,000 after buying an additional 23,645 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

RCUS has been the subject of several recent research reports. Morgan Stanley decreased their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Wedbush reissued an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. The Goldman Sachs Group reduced 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, Wall Street Zen upgraded shares of Arcus Biosciences from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average target price of $21.14.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $10.18 on Tuesday. The company’s fifty day moving average price is $9.27 and its 200 day moving average price is $9.17. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50. The firm has a market capitalization of $1.08 billion, a P/E ratio of -3.21 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. The firm had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. Arcus Biosciences’s revenue for the quarter was up 310.3% compared to the same quarter last year. During the same period last year, the business earned ($1.02) EPS. As a group, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share 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.