Arcus Biosciences, Inc. (NYSE:RCUS) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 67.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,524 shares of the company’s stock after purchasing an additional 9,916 shares during the quarter. AQR Capital Management LLC’s holdings in Arcus Biosciences were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Arcus Biosciences by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after purchasing an additional 110,528 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Arcus Biosciences by 8.7% in 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 buying an additional 59,273 shares during the last quarter. Nordea Investment Management AB grew its holdings in Arcus Biosciences by 26.3% in the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock valued at $4,892,000 after buying an additional 53,944 shares during the period. SG Americas Securities LLC increased its stake in shares of Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after acquiring an additional 120,650 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Arcus Biosciences by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 120,099 shares of the company’s stock valued at $1,829,000 after acquiring an additional 8,253 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of recent analyst reports. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wells Fargo & Company began coverage on Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective for the company. Barclays reduced their target price on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 8th. Finally, Truist Financial dropped 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. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and a consensus price target of $34.88.

Arcus Biosciences Trading Down 1.7 %

Shares of NYSE RCUS opened at $17.78 on Wednesday. The stock has a fifty day moving average price of $16.50 and a 200 day moving average price of $16.03. Arcus Biosciences, Inc. has a 12-month low of $12.95 and a 12-month high of $20.31. The company has a market cap of $1.62 billion, a P/E ratio of -5.72 and a beta of 0.88.

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

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.