Point72 Asset Management L.P. Sells 81,081 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Point72 Asset Management L.P. reduced its holdings in Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,833,851 shares of the company's stock after selling 81,081 shares during the period. Point72 Asset Management L.P. owned approximately 2.01% of Arcus Biosciences worth $27,930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RCUS. GAMMA Investing LLC increased its position in shares of 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 period. Headlands Technologies LLC bought a new stake in shares of Arcus Biosciences during the first quarter valued at approximately $59,000. Innealta Capital LLC bought a new stake in shares of Arcus Biosciences during the second quarter valued at approximately $66,000. Quest Partners LLC bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at approximately $77,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Arcus Biosciences during the second quarter valued at approximately $83,000. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on RCUS. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcus Biosciences in a research note on Friday, August 9th. Evercore ISI raised Arcus Biosciences to a "strong-buy" rating in a research note on Friday, August 9th. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Friday, August 9th. Barclays decreased their price target on Arcus Biosciences from $35.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, July 8th. Finally, Truist Financial decreased their price target on Arcus Biosciences from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Monday, June 24th. Seven research 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 presently has an average rating of "Buy" and an average target price of $35.71.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $15.39 on Friday. The firm has a market cap of $1.41 billion, a P/E ratio of -4.95 and a beta of 0.90. The business's fifty day moving average is $16.07 and its two-hundred day moving average is $16.17. Arcus Biosciences, Inc. has a 52 week low of $12.95 and a 52 week high of $20.31.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business's revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.04) earnings per share. On average, equities research analysts predict that Arcus Biosciences, Inc. will post -3.03 earnings per share for the current 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.