ClariVest Asset Management LLC purchased a new position in shares of Arcus Biosciences, Inc. (NYSE:RCUS – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 17,092 shares of the company’s stock, valued at approximately $260,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of RCUS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Arcus Biosciences by 8.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock worth $11,336,000 after purchasing an additional 59,273 shares during the period. Innealta Capital LLC purchased a new position in Arcus Biosciences during the 2nd quarter worth $66,000. Louisiana State Employees Retirement System increased its holdings 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 purchasing an additional 700 shares during the period. Diversified Trust Co increased its holdings 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 purchasing an additional 1,467 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after purchasing an additional 120,650 shares during the period. 92.89% of the stock is owned by institutional investors.
Arcus Biosciences Stock Performance
Shares of RCUS opened at $17.39 on Friday. The stock has a 50-day moving average of $15.76 and a two-hundred day moving average of $16.35. Arcus Biosciences, Inc. has a one year low of $12.95 and a one year high of $21.60. The stock has a market cap of $1.58 billion, a P/E ratio of -5.59 and a beta of 0.90.
Wall Street Analyst Weigh In
RCUS has been the topic of several research reports. Truist Financial reduced their price objective on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Citigroup raised their price objective on Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Friday, August 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Buy” and an average target price of $35.71.
Read Our Latest Report on Arcus Biosciences
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.
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