The Manufacturers Life Insurance Company Buys 2,123 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

The Manufacturers Life Insurance Company grew its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,858 shares of the company’s stock after buying an additional 2,123 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arcus Biosciences were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Arcus Biosciences by 26.3% during the first quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock worth $4,892,000 after buying an additional 53,944 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arcus Biosciences by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after purchasing an additional 110,528 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Arcus Biosciences by 8.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock valued at $11,336,000 after purchasing an additional 59,273 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after purchasing an additional 120,650 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Arcus Biosciences during the 2nd quarter valued at about $1,286,000. Institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RCUS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Barclays cut their price objective on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 8th. Truist Financial cut their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Finally, Wells Fargo & Company initiated coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Buy” and an average target price of $34.88.

Arcus Biosciences Stock Up 0.4 %

NYSE:RCUS opened at $17.86 on Thursday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -5.74 and a beta of 0.88. Arcus Biosciences, Inc. has a twelve month low of $12.95 and a twelve month high of $20.31. The stock’s 50 day moving average price is $16.58 and its two-hundred day moving average price is $16.04.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, hitting the consensus estimate of ($1.02). The firm had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.04) EPS. As a group, analysts anticipate 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.