New York State Teachers Retirement System Sells 5,000 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

New York State Teachers Retirement System cut its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,251 shares of the company’s stock after selling 5,000 shares during the period. New York State Teachers Retirement System owned about 0.10% of Arcus Biosciences worth $1,441,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Arcus Biosciences by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after acquiring an additional 1,090 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Arcus Biosciences by 5.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock worth $583,000 after purchasing an additional 1,702 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Arcus Biosciences during the first quarter worth about $59,000. ProShare Advisors LLC increased its stake in shares of Arcus Biosciences by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after buying an additional 746 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Arcus Biosciences by 26.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after buying an additional 145,298 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $34.13.

Arcus Biosciences Trading Up 8.4 %

Shares of Arcus Biosciences stock opened at $17.85 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of -5.67 and a beta of 0.89. The business has a 50-day moving average price of $16.61 and a two-hundred day moving average price of $16.06. Arcus Biosciences, Inc. has a 1-year low of $12.95 and a 1-year high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released 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 return on equity of 44.90% and a negative net margin of 102.66%. The business had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same quarter last year, the firm posted ($0.94) earnings per share. The firm’s revenue was up 50.0% on a year-over-year basis. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.25 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.