Principal Financial Group Inc. Sells 18,777 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Principal Financial Group Inc. cut its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 6.8% during the third quarter, HoldingsChannel reports. The fund owned 255,611 shares of the company’s stock after selling 18,777 shares during the quarter. Principal Financial Group Inc.’s holdings in Arcus Biosciences were worth $3,908,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in Arcus Biosciences by 2.6% in the second 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 in the last quarter. ProShare Advisors LLC raised its stake in shares of Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after acquiring an additional 746 shares in the last quarter. Diversified Trust Co lifted its position in Arcus Biosciences by 12.1% during the second quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after acquiring an additional 1,467 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Arcus Biosciences by 3.3% in the second quarter. WINTON GROUP Ltd now owns 59,137 shares of the company’s stock valued at $901,000 after acquiring an additional 1,872 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Arcus Biosciences by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after purchasing an additional 1,906 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RCUS shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. Barclays increased their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price on the stock. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $34.00.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS opened at $14.30 on Friday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -4.54 and a beta of 0.89. Arcus Biosciences, Inc. has a 12 month low of $13.49 and a 12 month high of $20.31. The company has a 50 day simple moving average of $16.43 and a two-hundred day simple moving average of $16.07. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.06. The company had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm’s revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.94) earnings per share. As a group, analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

About Arcus Biosciences

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.