Geode Capital Management LLC Has $18.69 Million Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Geode Capital Management LLC lessened its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,222,206 shares of the company’s stock after selling 10,869 shares during the quarter. Geode Capital Management LLC’s holdings in Arcus Biosciences were worth $18,692,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Parkman Healthcare Partners LLC lifted its holdings in Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the period. FMR LLC lifted its stake in shares of Arcus Biosciences by 6.9% during the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after buying an additional 286,766 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Arcus Biosciences during the 3rd quarter worth about $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Arcus Biosciences by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $15.27 on Friday. The company’s 50 day moving average price is $16.12 and its two-hundred day moving average price is $16.05. The firm has a market capitalization of $1.40 billion, a P/E ratio of -4.85 and a beta of 0.88. Arcus Biosciences, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $20.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $38.95 million. During the same quarter last year, the business earned ($0.94) EPS. The firm’s quarterly revenue was up 50.0% on a year-over-year basis. On average, equities analysts forecast that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.