Arcus Biosciences, Inc. (NYSE:RCUS) Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 27.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 334,981 shares of the company's stock after acquiring an additional 71,464 shares during the period. Principal Financial Group Inc. owned about 0.32% of Arcus Biosciences worth $2,630,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Lazard Asset Management LLC lifted its position 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 worth $93,000 after purchasing an additional 6,078 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Arcus Biosciences by 40.5% during the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock worth $109,000 after purchasing an additional 4,013 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Arcus Biosciences by 21.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock valued at $121,000 after purchasing an additional 2,700 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Arcus Biosciences by 21.9% in the 1st quarter. Teacher Retirement System of Texas now owns 18,227 shares of the company's stock worth $143,000 after purchasing an additional 3,275 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Arcus Biosciences by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company's stock worth $144,000 after buying an additional 6,453 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

Arcus Biosciences Trading Down 2.9%

Arcus Biosciences stock traded down $0.27 during midday trading on Friday, reaching $9.15. 437,295 shares of the stock traded hands, compared to its average volume of 888,898. The company has a 50-day simple moving average of $8.97 and a two-hundred day simple moving average of $9.99. The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.09. Arcus Biosciences, Inc. has a 12-month low of $6.50 and a 12-month high of $18.98. The firm has a market cap of $968.89 million, a PE ratio of -2.18 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $28.00 million for the quarter, compared to analysts' expectations of $38.61 million. Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. Arcus Biosciences's revenue for the quarter was down 80.7% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. Research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RCUS. The Goldman Sachs Group reduced their price objective on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. 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 report on Wednesday, April 23rd. 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 cut their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley dropped 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. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Arcus Biosciences currently has an average rating of "Moderate Buy" and an average target price of $21.29.

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.