Nordea Investment Management AB Acquires 5,246 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Nordea Investment Management AB boosted its holdings in Arcus Biosciences, Inc. (NYSE:RCUS) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 218,930 shares of the company’s stock after purchasing an additional 5,246 shares during the quarter. Nordea Investment Management AB’s holdings in Arcus Biosciences were worth $3,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Arcus Biosciences by 6.9% during the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after buying an additional 286,766 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the last quarter. Parkman Healthcare Partners LLC grew its stake 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Arcus Biosciences by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after purchasing an additional 186,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after purchasing an additional 59,536 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on RCUS. Barclays raised their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. HC Wainwright reiterated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday, November 6th. Finally, Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Stock Down 4.7 %

Arcus Biosciences stock opened at $14.22 on Friday. The company’s 50-day moving average price is $15.83 and its two-hundred day moving average price is $15.98. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.30 billion, a P/E ratio of -4.51 and a beta of 0.87. Arcus Biosciences, Inc. has a twelve month low of $13.52 and a twelve month high of $20.31.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. The company had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.94) earnings per share. As a group, analysts expect that Arcus Biosciences, Inc. will post -3.2 EPS for the current year.

Insider Activity

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.30% of the stock is currently owned by company insiders.

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.