Arcus Biosciences, Inc. $RCUS Shares Bought by Comerica Bank

Comerica Bank lifted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,298 shares of the company’s stock after acquiring an additional 4,684 shares during the period. Comerica Bank’s holdings in Arcus Biosciences were worth $183,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Gilead Sciences Inc. grew its position in shares of Arcus Biosciences by 4.5% during the first quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock worth $246,684,000 after acquiring an additional 1,363,636 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Arcus Biosciences by 24.1% during the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after acquiring an additional 1,298,584 shares during the last quarter. Woodline Partners LP grew its position in shares of Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after acquiring an additional 45,497 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Arcus Biosciences by 17.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,547,591 shares of the company’s stock worth $23,044,000 after acquiring an additional 228,325 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its position in shares of Arcus Biosciences by 24.2% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,273,789 shares of the company’s stock worth $18,967,000 after acquiring an additional 248,035 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Up 3.8%

Shares of RCUS stock opened at $11.75 on Thursday. The firm has a 50-day moving average price of $9.90 and a 200 day moving average price of $9.15. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $18.98. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.71 and a beta of 0.83. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18.

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

Analyst Ratings Changes

A number of research firms recently weighed in on RCUS. Wells Fargo & Company lowered their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Arcus Biosciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.14.

Arcus Biosciences Company 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.