Vanguard Group Inc. Has $52.50 Million Stock Position in Arcus Biosciences, Inc. $RCUS

Key Points

• Vanguard Group Inc. increased its position in Arcus Biosciences, purchasing an additional 1,298,584 shares, bringing its total ownership to 6,687,800 shares, valued at approximately $52.50 million.
• Several other institutional investors, including Allspring Global Investments and Yousif Capital Management, also boosted their stakes in Arcus Biosciences during the first quarter of the year.
• Analysts have mixed views on Arcus Biosciences, with target prices ranging from $13 to $33, indicating varying expectations for the company’s stock performance.

Vanguard Group Inc. boosted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,687,800 shares of the company's stock after purchasing an additional 1,298,584 shares during the quarter. Vanguard Group Inc. owned about 6.32% of Arcus Biosciences worth $52,499,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in Arcus Biosciences by 105.9% in the 4th quarter. Wells Fargo & Company MN now owns 38,618 shares of the company's stock valued at $575,000 after acquiring an additional 19,865 shares in the last quarter. Invesco Ltd. grew its position in Arcus Biosciences by 21.4% during the 4th quarter. Invesco Ltd. now owns 203,987 shares of the company's stock worth $3,037,000 after acquiring an additional 35,905 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Arcus Biosciences during the 4th quarter worth approximately $531,000. Jump Financial LLC bought a new position in Arcus Biosciences in the 4th quarter valued at $257,000. Finally, First Trust Advisors LP boosted its position in Arcus Biosciences by 43.1% in the 4th quarter. First Trust Advisors LP now owns 17,708 shares of the company's stock valued at $264,000 after buying an additional 5,337 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

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

Arcus Biosciences Price Performance

Shares of RCUS stock traded up $0.06 during trading on Thursday, hitting $10.62. The company had a trading volume of 633,062 shares, compared to its average volume of 763,071. 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 firm has a market capitalization of $1.13 billion, a P/E ratio of -3.35 and a beta of 0.89. The stock's 50-day moving average price is $9.39 and its 200 day moving average price is $9.18. 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 quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. During the same period in the previous year, the company posted ($1.02) earnings per share. The firm's revenue for the quarter was up 310.3% compared to the same quarter last year. Equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

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.