Arcus Biosciences, Inc. $RCUS Shares Bought by Gilead Sciences Inc.

Key Points

• Gilead Sciences Inc. increased its stake in Arcus Biosciences by 4.5% during the first quarter, making the stock its 3rd biggest position at approximately $246.7 million.
• Several institutional investors, including Vanguard Group and Ameriprise Financial, have also increased their holdings in Arcus Biosciences, leading to 92.89% of the stock being owned by institutional investors.
• Analysts have mixed outlooks for Arcus, with price targets ranging widely, and the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $21.14.

Gilead Sciences Inc. increased its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,424,760 shares of the company's stock after purchasing an additional 1,363,636 shares during the quarter. Arcus Biosciences makes up approximately 20.9% of Gilead Sciences Inc.'s portfolio, making the stock its 3rd largest position. Gilead Sciences Inc. owned about 29.68% of Arcus Biosciences worth $246,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. acquired a new stake in shares of Arcus Biosciences during the 1st quarter valued at $82,000. Lazard Asset Management LLC grew its stake in shares of Arcus Biosciences by 3,321.3% in 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 in the last quarter. Knott David M Jr acquired a new position in Arcus Biosciences in the first quarter worth approximately $94,000. Exchange Traded Concepts LLC raised its position in Arcus Biosciences by 40.5% during the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock valued at $109,000 after acquiring an additional 4,013 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Arcus Biosciences by 21.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock valued at $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. 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. Barclays decreased their price target on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group cut their price objective on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. Finally, Morgan Stanley cut their price target on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.14.

Arcus Biosciences Stock Performance

RCUS stock traded up $0.4050 during midday trading on Thursday, hitting $10.4950. The stock had a trading volume of 593,806 shares, compared to its average volume of 1,024,108. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.31 and a beta of 0.89. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. The stock has a 50-day simple moving average of $9.20 and a 200 day simple moving average of $9.29. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced 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 company had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The business's revenue was up 310.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.02) EPS. As a group, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share 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.