Fmr LLC Boosts Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

FMR LLC lifted its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,467,557 shares of the company's stock after acquiring an additional 286,766 shares during the period. FMR LLC owned 4.88% of Arcus Biosciences worth $68,309,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Arcus Biosciences during the second quarter worth approximately $66,000. Point72 DIFC Ltd purchased a new position in Arcus Biosciences in the 2nd quarter valued at $83,000. Quest Partners LLC grew its position in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company's stock valued at $144,000 after buying an additional 9,408 shares during the last quarter. Diversified Trust Co grew its position in Arcus Biosciences by 12.1% in the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company's stock valued at $206,000 after buying an additional 1,467 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Arcus Biosciences in the 3rd quarter valued at $244,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Up 1.1 %

RCUS stock traded up $0.18 during trading on Friday, hitting $17.29. The stock had a trading volume of 628,273 shares, compared to its average volume of 748,628. The company's 50 day moving average price is $16.38 and its two-hundred day moving average price is $16.02. Arcus Biosciences, Inc. has a 1-year low of $13.52 and a 1-year high of $20.31. 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 (NYSE:RCUS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating 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 firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the previous year, the company posted ($0.94) EPS. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Evercore ISI upgraded shares of Arcus Biosciences to a "strong-buy" rating in a research report on Friday, August 9th. Barclays lifted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They issued an "overweight" rating and a $29.00 price objective on the stock. Wedbush reiterated an "outperform" rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Arcus Biosciences currently has a consensus rating of "Buy" and an average target price 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.