Arcus Biosciences, Inc. $RCUS Shares Purchased by Swiss National Bank

Key Points

• The Swiss National Bank has increased its stake in Arcus Biosciences, Inc. by 35.9%, owning 133,596 shares worth approximately $1,049,000 as of the end of the last reporting period.
• Analysts have provided mixed reviews, with Morgan Stanley lowering its price target to $22.00 while Wedbush maintains an "outperform" rating with a price target of $33.00.
• Arcus Biosciences reported a substantial revenue increase of 310.3% year-over-year, with earnings of $160 million for the quarter despite a negative EPS of ($1.11).

Swiss National Bank boosted its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 35.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,596 shares of the company's stock after buying an additional 35,300 shares during the quarter. Swiss National Bank owned approximately 0.13% of Arcus Biosciences worth $1,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences in the 4th quarter valued at about $23,857,000. Vanguard Group Inc. grew its position in Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock worth $52,499,000 after purchasing an additional 1,298,584 shares during the last quarter. Braidwell LP purchased a new stake in Arcus Biosciences during the 4th quarter worth approximately $11,943,000. Millennium Management LLC grew its position in Arcus Biosciences by 277.1% during the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company's stock worth $13,764,000 after purchasing an additional 679,267 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at $6,928,000. Institutional investors own 92.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RCUS. Wells Fargo & Company decreased their target price on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Morgan Stanley reduced their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.14.

Arcus Biosciences Stock Up 0.5%

Shares of RCUS traded up $0.06 during mid-day trading on Thursday, hitting $10.62. 633,062 shares of the company's stock were exchanged, compared to its average volume of 763,071. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -3.35 and a beta of 0.89. Arcus Biosciences, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. The stock's 50-day moving average is $9.39 and its 200-day moving average is $9.18.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.03. The business had revenue of $160.00 million for 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 quarterly revenue was up 310.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.02) earnings per share. On average, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Arcus Biosciences 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.