Massachusetts Financial Services Co. MA Boosts Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Massachusetts Financial Services Co. MA increased its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,173 shares of the company’s stock after buying an additional 1,951 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Arcus Biosciences were worth $886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RCUS. GAMMA Investing LLC increased its position in Arcus Biosciences by 51.6% during the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after purchasing an additional 826 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Arcus Biosciences during the 1st quarter worth about $59,000. Innealta Capital LLC purchased a new stake in Arcus Biosciences in the 2nd quarter valued at about $66,000. Quest Partners LLC acquired a new position in Arcus Biosciences in the fourth quarter valued at about $77,000. Finally, Cape Investment Advisory Inc. purchased a new position in Arcus Biosciences during the fourth quarter worth about $77,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 1.9 %

RCUS stock opened at $16.48 on Monday. The stock 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 fifty-two week low of $12.95 and a fifty-two week high of $20.48. The business has a 50 day moving average price of $16.07 and a 200 day moving average price of $16.21.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting the consensus estimate of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period last year, the business earned ($1.04) EPS. Arcus Biosciences’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Barclays lowered their target price on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 8th. Truist Financial cut 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 note on Monday, June 24th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Arcus Biosciences presently 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.