JPMorgan Chase & Co. Purchases 1,117 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

JPMorgan Chase & Co. boosted its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,685 shares of the company’s stock after buying an additional 1,117 shares during the period. JPMorgan Chase & Co.’s holdings in Arcus Biosciences were worth $668,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RCUS. Point72 Hong Kong Ltd purchased a new position in Arcus Biosciences in the third quarter worth about $47,000. Point72 DIFC Ltd bought a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $83,000. Quest Partners LLC boosted its holdings in shares of Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares during the period. Intech Investment Management LLC bought a new position in shares of Arcus Biosciences during the 3rd quarter valued at approximately $244,000. Finally, Martingale Asset Management L P purchased a new stake in Arcus Biosciences during the 3rd quarter valued at $251,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.30% of the company’s stock.

Arcus Biosciences Price Performance

RCUS opened at $13.42 on Tuesday. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -4.26 and a beta of 0.87. The stock’s 50-day moving average price is $15.28 and its 200 day moving average price is $15.91. Arcus Biosciences, Inc. has a 12-month low of $12.88 and a 12-month high of $20.31.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The business had revenue of $48.00 million for 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 company’s revenue was up 50.0% on a year-over-year basis. During the same period last year, the business earned ($0.94) EPS. As a group, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

Analysts Set New Price Targets

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

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.