Arcus Biosciences, Inc. $RCUS Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in Arcus Biosciences by 106.2%, now owning 914,208 shares valued at approximately $7.18 million.
• Arcus Biosciences reported a revenue increase of 310.3% year-over-year for the quarter, with revenue of $160 million, exceeding analyst estimates of $32.86 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Arcus Biosciences, with a target price averaging $21.14 per share.

Goldman Sachs Group Inc. boosted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 106.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 914,208 shares of the company's stock after purchasing an additional 470,755 shares during the period. Goldman Sachs Group Inc. owned approximately 0.86% of Arcus Biosciences worth $7,177,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in RCUS. Strs Ohio acquired a new stake in shares of Arcus Biosciences during the first quarter worth about $67,000. E Fund Management Co. Ltd. purchased a new stake in Arcus Biosciences during the 1st quarter valued at approximately $82,000. Lazard Asset Management LLC lifted its position in Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock worth $93,000 after acquiring an additional 6,078 shares during the period. Knott David M Jr purchased a new position in shares of Arcus Biosciences in the 1st quarter valued at approximately $94,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Arcus Biosciences by 40.5% in the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock valued at $109,000 after purchasing an additional 4,013 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Performance

NYSE:RCUS opened at $11.50 on Monday. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. The stock has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $9.15. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.63 and a beta of 0.82.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. The company had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The business's revenue was up 310.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.02) EPS. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company reduced their target price on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.