Algert Global LLC Raises Holdings in Arcus Biosciences, Inc. $RCUS

Key Points

• Algert Global LLC increased its stake in Arcus Biosciences by 49.4%, owning 269,032 shares worth approximately $2.1 million as of its latest SEC filing.
• Arcus Biosciences reported an earnings per share (EPS) of -$1.11, beating analyst expectations, while its revenue surged year-over-year by 310.3% to $160 million.
• Several analysts have adjusted their price targets for Arcus Biosciences, with the average consensus price target now set at $21.14.

Algert Global LLC lifted its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 49.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,032 shares of the company's stock after acquiring an additional 88,910 shares during the quarter. Algert Global LLC owned 0.25% of Arcus Biosciences worth $2,112,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. purchased a new stake in Arcus Biosciences in the 1st quarter worth about $82,000. Lazard Asset Management LLC grew its stake in shares of Arcus Biosciences by 3,321.3% during 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 during the last quarter. Knott David M Jr bought a new position in shares of Arcus Biosciences during the first quarter valued at approximately $94,000. Exchange Traded Concepts LLC raised 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 worth $109,000 after buying an additional 4,013 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake 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 worth $121,000 after acquiring an additional 2,700 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RCUS shares. Wells Fargo & Company cut their price objective on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. The Goldman Sachs Group cut their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Wedbush reiterated an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.14.

Arcus Biosciences Price Performance

Arcus Biosciences stock traded up $0.0290 during mid-day trading on Friday, reaching $10.5090. 726,948 shares of the company were exchanged, compared to its average volume of 810,622. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $18.98. The business has a fifty day moving average of $9.25 and a 200 day moving average of $9.22. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.18.

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