Vanguard Group Inc. Acquires 61,040 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Vanguard Group Inc. lifted its stake in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,493,818 shares of the company's stock after purchasing an additional 61,040 shares during the period. Vanguard Group Inc. owned 6.00% of Arcus Biosciences worth $80,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RCUS. BluePath Capital Management LLC bought a new position in Arcus Biosciences during the third quarter worth about $28,000. Osaic Holdings Inc. lifted its holdings in Arcus Biosciences by 51.4% during the second quarter. Osaic Holdings Inc. now owns 1,620 shares of the company's stock worth $34,000 after acquiring an additional 550 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Arcus Biosciences during the third quarter worth about $36,000. Strs Ohio bought a new position in Arcus Biosciences during the third quarter worth about $43,000. Finally, State of Wyoming bought a new position in Arcus Biosciences during the fourth quarter worth about $48,000. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Stock Up 0.4 %

Shares of NYSE:RCUS traded up $0.07 during midday trading on Friday, reaching $17.34. The company had a trading volume of 496,895 shares, compared to its average volume of 739,933. The business's 50 day moving average price is $17.42 and its 200 day moving average price is $16.83. The stock has a market cap of $1.58 billion, a PE ratio of -4.18 and a beta of 0.81. Arcus Biosciences, Inc. has a 1-year low of $12.95 and a 1-year high of $25.47.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, topping analysts' consensus estimates of ($1.09) by $0.01. The firm had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The business's revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.93) earnings per share. On average, research analysts expect that Arcus Biosciences, Inc. will post -3.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial restated a "buy" rating and issued a $50.00 price target on shares of Arcus Biosciences in a report on Monday, March 25th. Mizuho cut their price target on Arcus Biosciences from $51.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 30th. Finally, Wedbush restated an "outperform" rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.25.

Insiders Place Their Bets

In other news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm's stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the transaction, the insider now owns 30,061,124 shares of the company's stock, valued at $631,283,604. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm's stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the transaction, the insider now owns 30,061,124 shares of the company's stock, valued at $631,283,604. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Juan C. Jaen sold 3,900 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the transaction, the president now directly owns 1,211,365 shares in the company, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. Insiders have sold a total of 53,455 shares of company stock valued at $1,014,779 over the last 90 days. 13.80% of the stock is currently owned by insiders.

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.