Rhumbline Advisers Has $1.44 Million Stock Holdings in Arcus Biosciences, Inc. $RCUS

Key Points

• Rhumbline Advisers has increased its holdings in Arcus Biosciences by 14.8%, now owning approximately 182,909 shares valued at $1.43 million.
• The company's Q2 earnings report showed a 310.3% increase in revenue year-over-year, totaling $160 million, and a smaller loss per share than expected.
• Arcus Biosciences currently holds an average rating of "Moderate Buy" from analysts, with a target price averaging $21.14.

Rhumbline Advisers raised its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,909 shares of the company's stock after acquiring an additional 23,645 shares during the period. Rhumbline Advisers owned about 0.17% of Arcus Biosciences worth $1,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio acquired a new position in Arcus Biosciences in the first quarter worth about $67,000. E Fund Management Co. Ltd. bought a new position in Arcus Biosciences in the 1st quarter valued at $82,000. Lazard Asset Management LLC increased its stake in shares of Arcus Biosciences by 3,321.3% in the fourth 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 in the last quarter. Knott David M Jr acquired a new stake in Arcus Biosciences in the 1st quarter valued at about $94,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Arcus Biosciences by 40.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock valued at $109,000 after buying an additional 4,013 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Stock Up 1.7%

RCUS traded up $0.21 during trading on Tuesday, reaching $12.73. The company had a trading volume of 54,238 shares, compared to its average volume of 993,265. The business's fifty day moving average price is $10.38 and its 200 day moving average price is $9.24. The company has a market cap of $1.35 billion, a P/E ratio of -4.01 and a beta of 0.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's revenue was up 310.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.02) EPS. Equities analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RCUS. Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company cut their target price 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.14.

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.