Texas Permanent School Fund Corp Reduces Stake in Arcus Biosciences, Inc. (NYSE:RCUS)

Texas Permanent School Fund Corp cut its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 14.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,460 shares of the company’s stock after selling 6,626 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Arcus Biosciences were worth $616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Decheng Capital LLC acquired a new stake in shares of Arcus Biosciences in the fourth quarter worth $16,613,000. Vanguard Group Inc. grew its position in Arcus Biosciences by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after purchasing an additional 186,898 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Arcus Biosciences by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock valued at $30,459,000 after buying an additional 158,094 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Arcus Biosciences by 26.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after buying an additional 145,298 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Arcus Biosciences by 1,396.1% in the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after buying an additional 120,650 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Stock Down 1.9 %

Shares of NYSE RCUS opened at $16.48 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -5.30 and a beta of 0.90. Arcus Biosciences, Inc. has a 52-week low of $12.95 and a 52-week high of $20.48. The company’s 50-day simple moving average is $16.07 and its 200-day simple moving average is $16.23.

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

Analyst Ratings Changes

Several research firms have commented on RCUS. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Barclays cut their price objective on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 8th. Citigroup increased their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Finally, Truist Financial cut their price target on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $35.71.

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.