Cubist Systematic Strategies LLC Purchases Shares of 84,463 Arcus Biosciences, Inc. (NYSE:RCUS)

Cubist Systematic Strategies LLC bought a new position in Arcus Biosciences, Inc. (NYSE:RCUS) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 84,463 shares of the company’s stock, valued at approximately $1,286,000. Cubist Systematic Strategies LLC owned 0.09% of Arcus Biosciences at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RCUS. Capstone Investment Advisors LLC purchased a new stake in shares of Arcus Biosciences in the 4th quarter worth about $203,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Arcus Biosciences in the 4th quarter worth about $1,201,000. NEOS Investment Management LLC purchased a new stake in shares of Arcus Biosciences in the 4th quarter worth about $213,000. Pennant Investors LP purchased a new stake in shares of Arcus Biosciences in the 4th quarter worth about $453,000. Finally, Parkman Healthcare Partners LLC lifted its position in shares of Arcus Biosciences by 20.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 247,664 shares of the company’s stock worth $4,730,000 after purchasing an additional 42,555 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $15.42 on Wednesday. Arcus Biosciences, Inc. has a 1 year low of $12.95 and a 1 year high of $20.31. The stock’s fifty day moving average price is $16.13 and its 200-day moving average price is $16.06. The company has a market cap of $1.40 billion, a P/E ratio of -4.96 and a beta of 0.90.

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

Analyst Ratings Changes

Several brokerages recently issued reports on RCUS. Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Friday, August 9th. Truist Financial decreased their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Barclays cut their target price on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $35.71.

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.