Nuveen Asset Management LLC Sells 37,994 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Nuveen Asset Management LLC reduced its position in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Arcus Biosciences by 140.6% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,646 shares of the company's stock valued at $1,141,000 after buying an additional 44,784 shares during the last quarter. Millennium Management LLC raised its stake in Arcus Biosciences by 277.1% during the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company's stock valued at $13,764,000 after buying an additional 679,267 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Arcus Biosciences by 2.5% during 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 last quarter. Lazard Asset Management LLC raised its stake in Arcus Biosciences by 3,321.3% during 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Arcus Biosciences during the 4th quarter valued at $6,928,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price 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 decreased their target price on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group decreased their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $33.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Finally, Morgan Stanley reduced their price objective on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.13.

Arcus Biosciences Price Performance

Arcus Biosciences stock traded up $0.02 during mid-day trading on Thursday, hitting $9.62. The stock had a trading volume of 638,981 shares, compared to its average volume of 864,337. The firm has a market capitalization of $1.02 billion, a P/E ratio of -3.05 and a beta of 0.88. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm's 50 day moving average is $8.33 and its 200 day moving average is $11.51. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The firm had revenue of $28.00 million during 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 company's quarterly revenue was down 80.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. On average, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share 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.