Exchange Traded Concepts LLC Has $152,000 Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Exchange Traded Concepts LLC decreased its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,909 shares of the company’s stock after selling 1,954 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Arcus Biosciences were worth $152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCUS. GAMMA Investing LLC raised its position in shares of Arcus Biosciences by 51.6% during the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after buying an additional 826 shares during the last quarter. Headlands Technologies LLC acquired a new position in Arcus Biosciences in the 1st quarter valued at approximately $59,000. Innealta Capital LLC acquired a new position in Arcus Biosciences in the 2nd quarter valued at approximately $66,000. Point72 DIFC Ltd bought a new stake in shares of Arcus Biosciences in the 2nd quarter worth approximately $83,000. Finally, ProShare Advisors LLC grew its holdings in shares of Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $16.80 on Wednesday. The stock has a 50 day simple moving average of $16.77 and a 200 day simple moving average of $16.03. Arcus Biosciences, Inc. has a 52-week low of $12.95 and a 52-week high of $20.31. The firm has a market capitalization of $1.54 billion, a PE ratio of -5.44 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter in the previous year, the business posted ($1.04) EPS. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. Equities research analysts predict that Arcus Biosciences, Inc. will post -3.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RCUS shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. HC Wainwright started coverage on Arcus Biosciences in a report on Monday. They issued a “neutral” rating and a $20.00 target price on the stock. Barclays dropped their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, July 8th. Evercore ISI raised Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company began coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Buy” and a consensus target price of $33.22.

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.