Massachusetts Financial Services Co. MA Increases Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Massachusetts Financial Services Co. MA lifted its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,173 shares of the company’s stock after acquiring an additional 1,951 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of Arcus Biosciences worth $886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in Arcus Biosciences by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock valued at $419,000 after acquiring an additional 700 shares during the period. ProShare Advisors LLC grew its position in Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares during the period. GAMMA Investing LLC raised its stake in shares of Arcus Biosciences by 51.6% during the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after buying an additional 826 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Arcus Biosciences by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock valued at $244,000 after buying an additional 1,090 shares during the period. Finally, Diversified Trust Co grew its holdings in Arcus Biosciences by 12.1% during the second quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock worth $206,000 after acquiring an additional 1,467 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RCUS. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Citigroup increased their price target on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Friday, August 9th. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Barclays cut their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Buy” and a consensus target price of $35.71.

Arcus Biosciences Stock Down 1.9 %

RCUS stock opened at $16.48 on Monday. The stock has a market capitalization of $1.51 billion, a P/E ratio of -5.30 and a beta of 0.90. Arcus Biosciences, Inc. has a 52 week low of $12.95 and a 52 week high of $20.48. The firm has a 50-day simple moving average of $16.07 and a 200-day simple moving average of $16.21.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million during the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter in the prior year, the firm earned ($1.04) earnings per share. The business’s revenue was up 34.5% compared to the same quarter last year. On average, analysts expect that Arcus Biosciences, Inc. will post -3.03 earnings per share for the current 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.