Aberdeen Group plc Acquires 52,930 Shares of Arcus Biosciences, Inc. $RCUS

Aberdeen Group plc grew its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,601 shares of the company’s stock after purchasing an additional 52,930 shares during the quarter. Aberdeen Group plc owned about 0.36% of Arcus Biosciences worth $9,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Arcus Biosciences by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after purchasing an additional 482 shares during the period. Amalgamated Bank raised its stake in shares of Arcus Biosciences by 3.9% during the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock valued at $266,000 after purchasing an additional 736 shares during the period. Creative Planning raised its stake in shares of Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after purchasing an additional 771 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Arcus Biosciences by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,873 shares of the company’s stock valued at $440,000 after purchasing an additional 1,649 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Arcus Biosciences by 9.9% during the 3rd quarter. Arizona State Retirement System now owns 20,366 shares of the company’s stock valued at $277,000 after purchasing an additional 1,833 shares during the period. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 1.3%

Shares of NYSE:RCUS opened at $21.94 on Wednesday. The firm has a fifty day moving average price of $21.35 and a two-hundred day moving average price of $20.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.36 and a quick ratio of 4.36. Arcus Biosciences, Inc. has a one year low of $6.75 and a one year high of $26.40. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -6.65 and a beta of 0.86.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.22. The company had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. Arcus Biosciences’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.03) earnings per share. Analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RCUS shares. Truist Financial upgraded Arcus Biosciences to a “strong-buy” rating in a research note on Wednesday, March 25th. Leerink Partners boosted their price objective on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Wells Fargo & Company set a $23.00 price objective on Arcus Biosciences and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Wedbush boosted their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.80.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.