Geode Capital Management LLC Has $18.69 Million Stock Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Geode Capital Management LLC decreased its position in Arcus Biosciences, Inc. (NYSE:RCUS) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,222,206 shares of the company’s stock after selling 10,869 shares during the period. Geode Capital Management LLC owned about 1.34% of Arcus Biosciences worth $18,692,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Parkman Healthcare Partners LLC boosted its holdings in Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Arcus Biosciences by 32.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after buying an additional 603,222 shares during the period. FMR LLC boosted its stake in Arcus Biosciences by 6.9% in the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after buying an additional 286,766 shares in the last quarter. Walleye Capital LLC bought a new stake in Arcus Biosciences in the third quarter valued at $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after acquiring an additional 186,750 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wells Fargo & Company assumed coverage on Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target for the company. Barclays boosted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Trading Down 3.5 %

NYSE:RCUS opened at $15.27 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of -4.85 and a beta of 0.88. Arcus Biosciences, Inc. has a twelve month low of $13.52 and a twelve month high of $20.31. The business has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $16.05. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

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