Metropolitan Life Insurance Co NY Boosts Holdings in Arcus Biosciences, Inc. (NYSE:RCUS)

Metropolitan Life Insurance Co NY increased its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 110,109.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,123 shares of the company’s stock after purchasing an additional 12,112 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Arcus Biosciences were worth $333,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Arcus Biosciences by 19.0% in the 2nd quarter. BlackRock Inc. now owns 4,038,728 shares of the company’s stock worth $110,902,000 after acquiring an additional 645,082 shares during the last quarter. FMR LLC increased its stake in Arcus Biosciences by 38.4% in the 2nd quarter. FMR LLC now owns 3,091,165 shares of the company’s stock worth $84,883,000 after acquiring an additional 857,505 shares during the last quarter. BVF Inc. IL increased its stake in Arcus Biosciences by 49.1% in the 2nd quarter. BVF Inc. IL now owns 2,797,822 shares of the company’s stock worth $76,828,000 after acquiring an additional 921,700 shares during the last quarter. State Street Corp increased its stake in Arcus Biosciences by 24.0% in the 2nd quarter. State Street Corp now owns 2,685,701 shares of the company’s stock worth $73,749,000 after acquiring an additional 520,307 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Arcus Biosciences by 10.2% in the 2nd quarter. Franklin Resources Inc. now owns 876,038 shares of the company’s stock worth $24,056,000 after acquiring an additional 81,216 shares during the last quarter. 58.43% of the stock is currently owned by institutional investors and hedge funds.

In other Arcus Biosciences news, COO Jennifer Jarrett sold 30,634 shares of the company’s stock in a transaction on Monday, September 20th. The stock was sold at an average price of $35.18, for a total value of $1,077,704.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 19.71% of the company’s stock.

RCUS has been the topic of a number of research reports. Zacks Investment Research raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays boosted their target price on Arcus Biosciences from $48.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Wedbush boosted their target price on Arcus Biosciences from $52.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 19th. Citigroup boosted their target price on Arcus Biosciences from $42.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 19th. Finally, SVB Leerink boosted their target price on Arcus Biosciences from $68.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $60.67.

Shares of Arcus Biosciences stock opened at $48.46 on Thursday. The stock’s fifty day moving average is $36.14 and its two-hundred day moving average is $31.05. The company has a market capitalization of $3.40 billion, a PE ratio of -11.82 and a beta of 0.94. Arcus Biosciences, Inc. has a 52 week low of $22.36 and a 52 week high of $49.10.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Monday, November 8th. The company reported ($1.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.13) by $0.02. The company had revenue of $9.46 million for the quarter, compared to the consensus estimate of $9.27 million. Arcus Biosciences had a negative return on equity of 48.12% and a negative net margin of 735.12%. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities analysts anticipate that Arcus Biosciences, Inc. will post -4.39 EPS for the current year.

Arcus Biosciences Profile

Arcus Biosciences, Inc engages in the development and commercialization of immunotherapies. It competes in the segments of the pharmaceutical, biotechnology and other related markets that develop immunotherapies for the treatment of cancer. The company was founded by Terry J. Rosen and Juan Carlos Jaen in 2015 and is headquartered in Hayward, CA.

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Institutional Ownership by Quarter for Arcus Biosciences (NYSE:RCUS)

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