Public Sector Pension Investment Board Has $1.83 Million Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Public Sector Pension Investment Board raised its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,099 shares of the company’s stock after buying an additional 8,253 shares during the quarter. Public Sector Pension Investment Board owned 0.13% of Arcus Biosciences worth $1,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after acquiring an additional 826 shares during the last quarter. Headlands Technologies LLC purchased a new position in Arcus Biosciences in the first quarter valued at about $59,000. Innealta Capital LLC acquired a new position in Arcus Biosciences in the 2nd quarter worth about $66,000. Capstone Investment Advisors LLC purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth about $203,000. Finally, ProShare Advisors LLC lifted 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 valued at $205,000 after buying an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RCUS. Citigroup increased their price objective on Arcus Biosciences from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a report on Friday, August 9th. Finally, Truist Financial decreased their price target on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences has a consensus rating of “Buy” and an average target price of $35.71.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $15.29 on Tuesday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -4.91 and a beta of 0.90. The firm has a fifty day moving average price of $16.11 and a two-hundred day moving average price of $16.08. Arcus Biosciences, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $20.31.

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