Maryland State Retirement & Pension System Has $290,000 Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Maryland State Retirement & Pension System cut its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 3.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,027 shares of the company’s stock after selling 731 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Arcus Biosciences were worth $290,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its position in Arcus Biosciences by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock worth $419,000 after buying an additional 700 shares during the period. ProShare Advisors LLC boosted its position in Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after buying an additional 746 shares during the period. GAMMA Investing LLC boosted its position in Arcus Biosciences by 51.6% during the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after buying an additional 826 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Arcus Biosciences by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after buying an additional 1,090 shares during the period. Finally, Diversified Trust Co boosted its position in Arcus Biosciences by 12.1% during the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock worth $206,000 after buying an additional 1,467 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RCUS shares. Barclays dropped their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. Truist Financial dropped their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Friday, August 9th. Citigroup boosted their price target on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $34.13.

Arcus Biosciences Stock Down 1.5 %

NYSE:RCUS opened at $16.32 on Thursday. The company has a fifty day moving average of $15.56 and a 200-day moving average of $16.40. The firm has a market capitalization of $1.48 billion, a P/E ratio of -5.25 and a beta of 0.90. Arcus Biosciences, Inc. has a twelve month low of $12.95 and a twelve month high of $22.68.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, meeting the consensus estimate of ($1.02). The company had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. Arcus Biosciences’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.04) EPS. On average, analysts anticipate that Arcus Biosciences, Inc. will post -3.03 EPS for the current fiscal year.

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.