Louisiana State Employees Retirement System Reduces Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Louisiana State Employees Retirement System decreased its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,100 shares of the company’s stock after selling 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Arcus Biosciences were worth $399,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 1,090 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Arcus Biosciences by 5.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock valued at $583,000 after buying an additional 1,702 shares during the period. Nordea Investment Management AB boosted its position 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. Headlands Technologies LLC purchased a new position in Arcus Biosciences in the 1st quarter valued at approximately $59,000. Finally, ProShare Advisors LLC boosted its position in Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after buying an additional 746 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. HC Wainwright reissued a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a research report on Wednesday. Wells Fargo & Company began coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.67.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $15.73 on Thursday. Arcus Biosciences, Inc. has a 1 year low of $12.95 and a 1 year high of $20.31. The company has a market capitalization of $1.44 billion, a P/E ratio of -5.09 and a beta of 0.89. The company’s fifty day moving average is $16.64 and its two-hundred day moving average is $16.03.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (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 company had revenue of $39.00 million for the quarter, compared to the consensus estimate of $26.24 million. During the same period last year, the firm posted ($1.04) EPS. Arcus Biosciences’s revenue for the quarter was up 34.5% on a year-over-year basis. As a group, equities analysts expect that Arcus Biosciences, Inc. will post -3.25 earnings per share for the current year.

Arcus Biosciences 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.