Massachusetts Financial Services Co. MA Raises Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Massachusetts Financial Services Co. MA lifted its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 39.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,889 shares of the company’s stock after acquiring an additional 22,716 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.09% of Arcus Biosciences worth $1,237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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 purchasing an additional 186,750 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after buying an additional 120,650 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Arcus Biosciences by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after buying an additional 110,528 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Arcus Biosciences in the 2nd quarter valued at about $1,286,000. Finally, XTX Topco Ltd purchased a new position in Arcus Biosciences during the 2nd quarter valued at about $590,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Arcus Biosciences Stock Performance

NYSE RCUS opened at $15.80 on Thursday. The business’s 50-day moving average price is $16.30 and its 200 day moving average price is $16.05. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences, Inc. has a twelve month low of $13.52 and a twelve month high of $20.31. The company has a market capitalization of $1.45 billion, a PE ratio of -5.01 and a beta of 0.89.

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, 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 for the quarter, compared to analyst estimates of $38.95 million. During the same period in the prior year, the firm posted ($0.94) EPS. The company’s revenue was up 50.0% on a year-over-year basis. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

About Arcus Biosciences

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.