Nordea Investment Management AB Raises Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Nordea Investment Management AB grew its holdings in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 26.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,372 shares of the company's stock after acquiring an additional 53,944 shares during the period. Nordea Investment Management AB owned 0.29% of Arcus Biosciences worth $4,892,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RCUS. GAMMA Investing LLC grew its holdings 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Arcus Biosciences by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company's stock worth $244,000 after acquiring an additional 1,090 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Arcus Biosciences by 5.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company's stock valued at $583,000 after acquiring an additional 1,702 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Arcus Biosciences by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,816 shares of the company's stock valued at $130,000 after purchasing an additional 1,729 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Arcus Biosciences during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup lifted their price target on 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 cut 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 note on Monday, June 24th. Barclays decreased their price objective on Arcus Biosciences from $35.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcus Biosciences in a research note on Friday, July 5th. Finally, Wedbush reiterated an "outperform" rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.11.

Arcus Biosciences Trading Down 1.0 %

Shares of RCUS traded down $0.14 during trading hours on Wednesday, hitting $13.94. 738,119 shares of the stock traded hands, compared to its average volume of 784,309. The business has a fifty day moving average of $15.83 and a 200-day moving average of $16.68. The firm has a market capitalization of $1.27 billion, a PE ratio of -4.48 and a beta of 0.90. Arcus Biosciences, Inc. has a 1-year low of $12.95 and a 1-year high of $25.47.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.92. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $28.77 million. Arcus Biosciences had a negative return on equity of 40.98% and a negative net margin of 97.47%. The firm's quarterly revenue was up 480.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.09) EPS. As a group, equities research analysts expect that Arcus Biosciences, Inc. will post -2.61 earnings per share for the current fiscal year.

Arcus Biosciences 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.