Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 34.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,949 shares of the company’s stock after buying an additional 6,699 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Arcus Biosciences were worth $445,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Arcus Biosciences by 0.5% in the 1st quarter. State Street Corp now owns 643,537 shares of the company’s stock worth $8,932,000 after purchasing an additional 3,070 shares in the last quarter. SG Americas Securities LLC lifted its stake in Arcus Biosciences by 25.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,663 shares of the company’s stock worth $363,000 after purchasing an additional 2,965 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Arcus Biosciences in the 2nd quarter worth $3,616,000. M&G Investment Management Ltd. purchased a new stake in Arcus Biosciences in the 2nd quarter worth $387,000. Finally, Strs Ohio purchased a new stake in Arcus Biosciences in the 2nd quarter worth $329,000. Institutional investors own 56.68% of the company’s stock.
Several analysts have commented on RCUS shares. SVB Leerink decreased their price target on shares of Arcus Biosciences from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, November 6th. Zacks Investment Research upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Friday. Finally, Wedbush restated an “outperform” rating on shares of Arcus Biosciences in a report on Monday, August 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Arcus Biosciences presently has an average rating of “Buy” and an average price target of $37.33.
In other news, CFO Robert C. Goeltz II purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were bought at an average cost of $21.57 per share, for a total transaction of $107,850.00. Following the acquisition, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $107,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.71% of the company’s stock.
Arcus Biosciences stock opened at $24.38 on Friday. The company has a market cap of $1.58 billion, a PE ratio of -9.95 and a beta of 1.32. Arcus Biosciences, Inc. has a twelve month low of $7.64 and a twelve month high of $37.41. The company’s 50-day moving average price is $20.59 and its 200-day moving average price is $24.03.
Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.25). Arcus Biosciences had a negative net margin of 745.18% and a negative return on equity of 49.11%. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -1.78 earnings per share for the current year.
Arcus Biosciences Company Profile
Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer therapies in the United States. The company's product pipeline includes, AB928, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 monoclonal antibody that is in Phase Ib clinical trial for monotherapy.
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