Arcus Biosciences, Inc. $RCUS Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Arcus Biosciences by 58.0% during the first quarter, now owning approximately 0.20% of the company valued at $1,675,000.
• Analyst ratings for Arcus Biosciences vary, with six analysts rating it a Buy and a recent price target consensus of $21.14, while Morgan Stanley lowered its price objective from $24.00 to $22.00.
• Arcus Biosciences reported a significant revenue increase of 310.3% year-over-year, with quarterly revenue reaching $160 million and EPS of ($1.11), outperforming expectations.

Public Sector Pension Investment Board raised its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 58.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,372 shares of the company's stock after buying an additional 78,342 shares during the quarter. Public Sector Pension Investment Board owned about 0.20% of Arcus Biosciences worth $1,675,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its stake 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 valued at $93,000 after buying an additional 6,078 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Arcus Biosciences by 40.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock worth $109,000 after acquiring an additional 4,013 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Arcus Biosciences by 21.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock valued at $121,000 after buying an additional 2,700 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Arcus Biosciences during the first quarter worth $138,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Arcus Biosciences by 21.9% during the first quarter. Teacher Retirement System of Texas now owns 18,227 shares of the company's stock valued at $143,000 after buying an additional 3,275 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Price Performance

Shares of RCUS traded up $0.0290 during mid-day trading on Friday, hitting $10.5090. 726,948 shares of the company were exchanged, compared to its average volume of 809,959. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -3.32 and a beta of 0.89. The company has a 50 day moving average of $9.25 and a 200-day moving average of $9.22. 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.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly 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 firm had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.The firm's revenue for the quarter was up 310.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.02) earnings per share. Analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. Wells Fargo & Company lowered 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. The Goldman Sachs Group reduced their target price on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley dropped their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.14.

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.