Goldman Sachs Group Inc. Increases Position in Arcus Biosciences, Inc. $RCUS

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. raised its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 106.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 914,208 shares of the company's stock after acquiring an additional 470,755 shares during the quarter. Goldman Sachs Group Inc. owned about 0.86% of Arcus Biosciences worth $7,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp grew its position in Arcus Biosciences by 4.3% in the fourth quarter. Northern Trust Corp now owns 532,099 shares of the company's stock worth $7,923,000 after acquiring an additional 22,181 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Arcus Biosciences by 79.6% in the fourth quarter. BNP Paribas Financial Markets now owns 20,341 shares of the company's stock worth $303,000 after buying an additional 9,016 shares in the last quarter. Bank of America Corp DE raised its stake in Arcus Biosciences by 13.6% in the fourth quarter. Bank of America Corp DE now owns 160,145 shares of the company's stock worth $2,385,000 after buying an additional 19,232 shares in the last quarter. Deutsche Bank AG grew its holdings in Arcus Biosciences by 46.7% in the fourth quarter. Deutsche Bank AG now owns 50,218 shares of the company's stock worth $748,000 after purchasing an additional 15,995 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Arcus Biosciences by 3,321.3% in the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock worth $93,000 after purchasing an additional 6,078 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Arcus Biosciences Stock Down 1.8%

RCUS stock traded down $0.23 during trading on Friday, hitting $12.22. 260,652 shares of the company's stock traded hands, compared to its average volume of 990,612. The firm has a market capitalization of $1.30 billion, a P/E ratio of -3.85 and a beta of 0.83. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $9.21.

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