Intech Investment Management LLC Acquires Shares of 15,959 Arcus Biosciences, Inc. (NYSE:RCUS)

Intech Investment Management LLC bought a new position in Arcus Biosciences, Inc. (NYSE:RCUS) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,959 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors also recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Arcus Biosciences by 8.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock worth $11,336,000 after purchasing an additional 59,273 shares during the last quarter. SG Americas Securities LLC raised its position in Arcus Biosciences by 1,396.1% in the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after buying an additional 120,650 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Arcus Biosciences by 17.8% during the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock valued at $2,866,000 after acquiring an additional 28,307 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Arcus Biosciences during the second quarter valued at approximately $1,286,000. Finally, The Manufacturers Life Insurance Company lifted its position in Arcus Biosciences by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock valued at $455,000 after purchasing an additional 2,123 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price for the company. HC Wainwright reissued a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences has a consensus rating of “Buy” and an average price target of $34.00.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS opened at $17.11 on Friday. The firm has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $16.01. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.57 billion, a P/E ratio of -5.43 and a beta of 0.88. Arcus Biosciences, Inc. has a 52 week low of $13.52 and a 52 week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.06. The firm had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business’s revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.94) EPS. On average, analysts expect that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Arcus Biosciences 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.