Arcus Biosciences, Inc. (NYSE:RCUS) Shares Sold by State Street Corp

State Street Corp reduced its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 1.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,011,174 shares of the company’s stock after selling 43,882 shares during the quarter. State Street Corp’s holdings in Arcus Biosciences were worth $46,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in RCUS. Point72 Asset Management L.P. lifted its position in Arcus Biosciences by 32.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after acquiring an additional 603,222 shares during the period. Parkman Healthcare Partners LLC boosted its position in Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after buying an additional 610,219 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Arcus Biosciences in the 3rd quarter worth approximately $47,000. PDT Partners LLC lifted its stake in Arcus Biosciences by 19.6% during the 3rd quarter. PDT Partners LLC now owns 87,636 shares of the company’s stock valued at $1,340,000 after acquiring an additional 14,371 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Arcus Biosciences during the 3rd quarter valued at approximately $3,647,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $15.46 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of -4.91 and a beta of 0.88. Arcus Biosciences, Inc. has a twelve month low of $13.52 and a twelve month high of $20.31. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $16.41 and a 200 day moving average price of $16.06.

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

Wall Street Analysts Forecast Growth

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

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.