Charles Schwab Investment Management Inc. Has $5.61 Million Holdings in Arcus Biosciences, Inc. $RCUS

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in Arcus Biosciences by 23.2%, owning approximately 0.67% of the company, worth about $5.6 million.
• Multiple institutional investors have made significant adjustments to their positions in Arcus Biosciences, with 92.89% of the stock currently owned by hedge funds and other institutional investors.
• Despite a negative return on equity, Arcus Biosciences experienced a 310.3% increase in quarterly revenue compared to the same period last year, reporting $160 million in revenue.

Charles Schwab Investment Management Inc. boosted its holdings in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 714,002 shares of the company's stock after acquiring an additional 134,379 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.67% of Arcus Biosciences worth $5,605,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Arcus Biosciences by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company's stock valued at $144,000 after acquiring an additional 6,453 shares during the period. Yousif Capital Management LLC increased its position in Arcus Biosciences by 18.6% in the 1st quarter. Yousif Capital Management LLC now owns 24,829 shares of the company's stock valued at $195,000 after acquiring an additional 3,893 shares during the period. Amalgamated Bank increased its position in Arcus Biosciences by 18.4% in the 1st quarter. Amalgamated Bank now owns 18,797 shares of the company's stock valued at $148,000 after acquiring an additional 2,922 shares during the period. Raymond James Financial Inc. acquired a new stake in Arcus Biosciences in the 4th quarter valued at approximately $531,000. Finally, Rhumbline Advisers increased its position in Arcus Biosciences by 14.8% in the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company's stock valued at $1,436,000 after acquiring an additional 23,645 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on RCUS shares. Morgan Stanley lowered their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wedbush reiterated an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price target 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. Finally, The Goldman Sachs Group lowered their price target 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.14.

Arcus Biosciences Stock Up 2.0%

RCUS traded up $0.22 during trading on Tuesday, reaching $10.81. 534,420 shares of the stock traded hands, compared to its average volume of 725,482. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -3.41 and a beta of 0.83. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50. The stock's 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $9.12.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data 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 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 business's revenue for the quarter was up 310.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.02) earnings per share. As a group, equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

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.