Invesco Ltd. Has $1.99 Million Stock Holdings in Arcus Biosciences, Inc. $RCUS

Invesco Ltd. grew its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 24.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 254,024 shares of the company’s stock after buying an additional 50,037 shares during the quarter. Invesco Ltd. owned approximately 0.24% of Arcus Biosciences worth $1,994,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RCUS. Wells Fargo & Company MN boosted its holdings in Arcus Biosciences by 105.9% in the fourth quarter. Wells Fargo & Company MN now owns 38,618 shares of the company’s stock valued at $575,000 after acquiring an additional 19,865 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Arcus Biosciences during the 4th quarter valued at about $531,000. First Trust Advisors LP raised its position in Arcus Biosciences by 43.1% in the 4th quarter. First Trust Advisors LP now owns 17,708 shares of the company’s stock valued at $264,000 after buying an additional 5,337 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Arcus Biosciences by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after purchasing an additional 178,351 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Arcus Biosciences by 8.1% during the 4th quarter. MetLife Investment Management LLC now owns 33,525 shares of the company’s stock worth $499,000 after acquiring an additional 2,521 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 0.1%

RCUS stock opened at $10.60 on Friday. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The business’s 50 day moving average price is $9.42 and its two-hundred day moving average price is $9.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -3.34 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping 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 firm had revenue of $160.00 million for the quarter, compared to the consensus estimate of $32.86 million. During the same quarter in the prior year, the business earned ($1.02) EPS. The business’s revenue for the quarter was up 310.3% on a year-over-year basis. As a group, analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price target on 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 decreased 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. Wall Street Zen raised Arcus Biosciences from a “strong sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley reduced their target price on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.14.

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.