State Street Corp Lowers Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

State Street Corp lessened its stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,011,174 shares of the company's stock after selling 43,882 shares during the quarter. State Street Corp owned about 3.29% of Arcus Biosciences worth $46,041,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Parkman Healthcare Partners LLC lifted its position in Arcus Biosciences by 146.9% in the third 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 period. Point72 Asset Management L.P. lifted its holdings in shares of Arcus Biosciences by 32.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company's stock valued at $37,263,000 after buying an additional 603,222 shares during the period. FMR LLC boosted its stake in shares of Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company's stock valued at $68,309,000 after buying an additional 286,766 shares in the last quarter. Walleye Capital LLC acquired a new position in Arcus Biosciences during the third quarter worth $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Arcus Biosciences by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company's stock worth $14,236,000 after acquiring an additional 186,750 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Price Performance

Shares of NYSE RCUS traded up $0.04 during trading on Friday, reaching $15.50. The company had a trading volume of 2,023,196 shares, compared to its average volume of 734,758. 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, Inc. has a twelve month low of $13.52 and a twelve month high of $20.31. The stock has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $16.06. The stock has a market capitalization of $1.42 billion, a PE ratio of -4.92 and a beta of 0.88.

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. The firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm's revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.94) EPS. As a group, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RCUS shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wells Fargo & Company began coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an "overweight" rating and a $29.00 target price on the stock. HC Wainwright reissued a "neutral" rating and set a $20.00 price target on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Barclays upped their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, Wedbush reiterated an "outperform" rating and set a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $34.00.

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.