Invesco Ltd. Raises Stock Holdings in Arcus Biosciences, Inc. $RCUS

Key Points

• Invesco Ltd. increased its stake in Arcus Biosciences by 24.5% during the first quarter, holding approximately $1.99 million in the company after acquiring an additional 50,037 shares.
• Arcus Biosciences reported a significant revenue increase of 310.3% year-over-year, reaching $160 million for the quarter, while also surpassing EPS estimates.
• Analysts have varied opinions on Arcus's stock, with price targets ranging from $13.00 to $33.00, and a current consensus rating of "Moderate Buy".

Invesco Ltd. boosted its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,024 shares of the company's stock after buying an additional 50,037 shares during the period. Invesco Ltd. owned approximately 0.24% of Arcus Biosciences worth $1,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Arcus Biosciences by 2.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after buying an additional 833 shares during the period. Maryland State Retirement & Pension System increased its stake in Arcus Biosciences by 10.9% during the first quarter. Maryland State Retirement & Pension System now owns 20,202 shares of the company's stock worth $159,000 after purchasing an additional 1,986 shares during the period. MetLife Investment Management LLC increased its stake in Arcus Biosciences by 8.1% during the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company's stock worth $499,000 after purchasing an additional 2,521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Arcus Biosciences by 7.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,748 shares of the company's stock worth $281,000 after purchasing an additional 2,524 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Arcus Biosciences by 21.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock worth $121,000 after purchasing an additional 2,700 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Down 0.6%

RCUS traded down $0.07 on Thursday, reaching $11.57. The company's stock had a trading volume of 1,151,157 shares, compared to its average volume of 733,633. The stock has a 50 day moving average of $9.63 and a two-hundred day moving average of $9.13. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.65 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.

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, beating 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 company had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. During the same quarter in the previous year, the business earned ($1.02) earnings per share. The firm's revenue for the quarter was up 310.3% on a year-over-year basis. As a group, analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley cut their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Wedbush reiterated an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a research note 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, The Goldman Sachs Group lowered 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. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.14.

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.