38,761 Shares in Arcus Biosciences, Inc. (NYSE:RCUS) Purchased by XTX Topco Ltd

XTX Topco Ltd purchased a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 38,761 shares of the company’s stock, valued at approximately $590,000.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after acquiring an additional 826 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Arcus Biosciences during the first quarter valued at approximately $59,000. Quest Partners LLC acquired a new stake in Arcus Biosciences during the fourth quarter valued at approximately $77,000. Cape Investment Advisory Inc. acquired a new stake in Arcus Biosciences during the fourth quarter valued at approximately $77,000. Finally, Innealta Capital LLC acquired a new stake in Arcus Biosciences during the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup upped their price objective on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Truist Financial dropped their price target on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Barclays dropped their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $35.71.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $15.71 on Tuesday. Arcus Biosciences, Inc. has a 12-month low of $12.95 and a 12-month high of $20.31. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -5.05 and a beta of 0.90. The business has a 50 day simple moving average of $16.07 and a 200 day simple moving average of $16.19.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $26.24 million. During the same period in the prior year, the company posted ($1.04) EPS. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, equities analysts anticipate that Arcus Biosciences, Inc. will post -3.03 EPS for the current fiscal year.

About Arcus Biosciences

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.