Public Sector Pension Investment Board Decreases Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Public Sector Pension Investment Board trimmed its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,399 shares of the company’s stock after selling 5,700 shares during the quarter. Public Sector Pension Investment Board owned 0.13% of Arcus Biosciences worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of RCUS. FMR LLC boosted its holdings in Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Arcus Biosciences by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after purchasing an additional 186,750 shares in the last quarter. SG Americas Securities LLC increased its position in Arcus Biosciences by 1,396.1% during the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after purchasing an additional 120,650 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Arcus Biosciences in the second quarter worth approximately $1,286,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Arcus Biosciences by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after buying an additional 59,536 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Price Performance

RCUS stock opened at $17.11 on Friday. The firm has a 50 day moving average of $16.30 and a 200-day moving average of $16.01. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -5.43 and a beta of 0.88. Arcus Biosciences, Inc. has a 12-month low of $13.52 and a 12-month high of $20.31. 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 earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The firm had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Arcus Biosciences’s revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.94) EPS. As a group, equities analysts expect that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. HC Wainwright reiterated a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Barclays upped their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $34.00.

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.