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

Principal Financial Group Inc. cut its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RCUS. Point72 Hong Kong Ltd purchased a new position in shares of Arcus Biosciences in the third quarter worth $47,000. Point72 DIFC Ltd bought a new stake in Arcus Biosciences in the 2nd quarter worth about $83,000. Quest Partners LLC raised its position in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after buying an additional 9,408 shares during the last quarter. Intech Investment Management LLC bought a new position in Arcus Biosciences during the 3rd quarter valued at about $244,000. Finally, Martingale Asset Management L P purchased a new stake in shares of Arcus Biosciences during the 3rd quarter valued at about $251,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $15.13 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -4.80 and a beta of 0.88. Arcus Biosciences, Inc. has a 1 year low of $13.52 and a 1 year high of $20.31. The stock’s 50 day simple moving average is $15.94 and its two-hundred day simple moving average is $16.02.

Arcus Biosciences (NYSE:RCUS) last released its quarterly 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. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $48.00 million for the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the prior year, the firm earned ($0.94) earnings per share. Arcus Biosciences’s revenue was up 50.0% on a year-over-year basis. As a group, equities analysts anticipate that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RCUS has been the topic of a number of research analyst reports. 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. HC Wainwright restated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating 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 issued an “overweight” rating and a $29.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently 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.