Nuveen Asset Management LLC Reduces Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Nuveen Asset Management LLC trimmed its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 22.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 131,859 shares of the company's stock after selling 37,994 shares during the period. Nuveen Asset Management LLC owned about 0.14% of Arcus Biosciences worth $1,963,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Arcus Biosciences by 2.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after purchasing an additional 833 shares during the period. R Squared Ltd bought a new stake in Arcus Biosciences in the fourth quarter worth $26,000. Teacher Retirement System of Texas increased its position in shares of Arcus Biosciences by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock valued at $223,000 after acquiring an additional 2,410 shares during the period. Handelsbanken Fonder AB increased its position in shares of Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock valued at $369,000 after acquiring an additional 2,500 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Arcus Biosciences by 8.1% during the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company's stock valued at $499,000 after buying an additional 2,521 shares during the period. Institutional investors and hedge funds own 92.89% of the company's stock.

Arcus Biosciences Trading Up 3.8%

Shares of RCUS stock traded up $0.37 on Friday, reaching $10.00. 843,753 shares of the stock were exchanged, compared to its average volume of 866,745. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98. The stock has a 50 day moving average price of $8.41 and a 200 day moving average price of $11.45. The stock has a market cap of $1.06 billion, a PE ratio of -3.17 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The company had revenue of $28.00 million for the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business's revenue was down 80.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on RCUS shares. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Morgan Stanley cut their price objective 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. Wells Fargo & Company decreased their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Barclays cut 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. Finally, Bank of America lowered their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Arcus Biosciences has an average rating of "Moderate Buy" and a consensus price target of $24.13.

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.