AQR Capital Management LLC Purchases 9,916 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

AQR Capital Management LLC grew its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 67.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,524 shares of the company’s stock after acquiring an additional 9,916 shares during the quarter. AQR Capital Management LLC’s holdings in Arcus Biosciences were worth $374,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Arcus Biosciences by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock valued at $89,402,000 after purchasing an additional 186,898 shares during the period. GAMMA Investing LLC grew its position 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 worth $46,000 after buying an additional 826 shares in the last quarter. Diversified Trust Co bought a new position in shares of Arcus Biosciences during the 1st quarter worth $228,000. Allspring Global Investments Holdings LLC increased its stake in shares of Arcus Biosciences by 9.2% during the first 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, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Arcus Biosciences by 5.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock valued at $583,000 after acquiring an additional 1,702 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $17.78 on Wednesday. Arcus Biosciences, Inc. has a one year low of $12.95 and a one year high of $20.31. The company has a market cap of $1.62 billion, a P/E ratio of -5.72 and a beta of 0.88. The firm has a fifty day moving average of $16.50 and a two-hundred day moving average of $16.03.

Arcus Biosciences (NYSE:RCUS) last issued its 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). The company had revenue of $39.00 million during the quarter, compared to analysts’ expectations of $26.24 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm’s quarterly revenue was up 34.5% compared to the same quarter last year. During the same period last year, the company posted ($1.04) earnings per share. As a group, equities analysts predict that Arcus Biosciences, Inc. will post -3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RCUS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Truist Financial dropped their target price 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. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company began coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective for the company. Finally, 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. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Arcus Biosciences has a consensus rating of “Buy” and a consensus price target of $34.88.

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.