Suvretta Capital Management LLC Trims Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Suvretta Capital Management LLC trimmed its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) by 30.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 663,603 shares of the company's stock after selling 293,701 shares during the period. Suvretta Capital Management LLC owned approximately 0.73% of Arcus Biosciences worth $10,146,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in RCUS. Louisiana State Employees Retirement System grew its holdings in shares of Arcus Biosciences by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the company's stock valued at $419,000 after purchasing an additional 700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Arcus Biosciences by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company's stock worth $471,000 after acquiring an additional 843 shares in the last quarter. Diversified Trust Co increased its position in shares of Arcus Biosciences by 12.1% during the second quarter. Diversified Trust Co now owns 13,545 shares of the company's stock worth $206,000 after acquiring an additional 1,467 shares during the period. WINTON GROUP Ltd raised its stake in shares of Arcus Biosciences by 3.3% in the second quarter. WINTON GROUP Ltd now owns 59,137 shares of the company's stock valued at $901,000 after acquiring an additional 1,872 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Arcus Biosciences by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company's stock valued at $657,000 after acquiring an additional 1,906 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wedbush reissued an "outperform" rating and set a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Barclays upped their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock 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 note on Thursday, October 3rd. Evercore ISI raised shares of Arcus Biosciences to a "strong-buy" rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an "overweight" rating and a $29.00 price objective for the company. 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $34.00.

Arcus Biosciences Stock Down 2.3 %

Shares of NYSE RCUS traded down $0.36 during mid-day trading on Friday, reaching $15.44. The company had a trading volume of 321,540 shares, compared to its average volume of 731,323. The firm has a 50 day simple moving average of $16.27 and a two-hundred day simple moving average of $16.05. Arcus Biosciences, Inc. has a 52-week low of $13.52 and a 52-week 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. The stock has a market cap of $1.41 billion, a P/E ratio of -4.99 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping analysts' consensus estimates of ($1.06) by $0.06. The business had revenue of $48.00 million for the quarter, compared to analysts' expectations of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business's revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.94) earnings per share. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

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.