Arcus Biosciences, Inc. (NYSE:RCUS) Stock Position Reduced by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,833,851 shares of the company’s stock after selling 81,081 shares during the period. Point72 Asset Management L.P. owned about 2.01% of Arcus Biosciences worth $27,930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RCUS. GAMMA Investing LLC grew its position in 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 purchasing an additional 826 shares in the last quarter. Headlands Technologies LLC bought a new stake in Arcus Biosciences in the first quarter worth approximately $59,000. Innealta Capital LLC bought a new stake in Arcus Biosciences in the second quarter worth approximately $66,000. Quest Partners LLC bought a new stake in Arcus Biosciences in the fourth quarter worth approximately $77,000. Finally, Point72 DIFC Ltd bought a new stake in Arcus Biosciences in the second quarter worth approximately $83,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup boosted their target price on shares of Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Truist Financial decreased their target price on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Barclays decreased their target price on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Wedbush reissued an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research report on Friday, August 9th. Finally, Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $35.71.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $15.39 on Friday. Arcus Biosciences, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $20.31. The firm has a fifty day moving average price of $16.07 and a two-hundred day moving average price of $16.17. The company has a market cap of $1.41 billion, a PE ratio of -4.95 and a beta of 0.90.

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