Rhumbline Advisers Sells 6,838 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Rhumbline Advisers cut its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,835 shares of the company’s stock after selling 6,838 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Arcus Biosciences worth $2,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew 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. Innealta Capital LLC bought a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $66,000. Louisiana State Employees Retirement System boosted its position in Arcus Biosciences by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company’s stock valued at $419,000 after acquiring an additional 700 shares in the last quarter. Diversified Trust Co boosted its position in Arcus Biosciences by 12.1% during the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after acquiring an additional 1,467 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in 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 acquiring an additional 120,650 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RCUS shares. Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a research 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 research report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research report on Friday, August 9th. Citigroup lifted their price objective on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $35.71.

Arcus Biosciences Stock Performance

RCUS stock opened at $16.48 on Thursday. The firm has a 50 day moving average price of $15.95 and a 200-day moving average price of $16.26. Arcus Biosciences, Inc. has a 52-week low of $12.95 and a 52-week high of $20.60. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -5.36 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. During the same period last year, the business earned ($1.04) earnings per share. The business’s revenue was up 34.5% on a year-over-year basis. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.03 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.