Point72 Hong Kong Ltd Invests $47,000 in Arcus Biosciences, Inc. (NYSE:RCUS)

Point72 Hong Kong Ltd bought a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,100 shares of the company’s stock, valued at approximately $47,000.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC lifted its stake in Arcus Biosciences by 6.9% during the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after acquiring an additional 286,766 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after purchasing an additional 186,750 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Arcus Biosciences by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after purchasing an additional 59,536 shares in the last quarter. Walleye Capital LLC purchased a new position in Arcus Biosciences during the third quarter worth about $3,647,000. Finally, GSA Capital Partners LLP grew its position in Arcus Biosciences by 17.8% in the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock worth $2,866,000 after purchasing an additional 28,307 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a report on Wednesday, November 6th. Finally, Barclays boosted 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Stock Up 3.5 %

RCUS opened at $16.49 on Wednesday. Arcus Biosciences, Inc. has a 12 month low of $13.52 and a 12 month high of $20.31. 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 company has a 50 day moving average of $16.25 and a 200 day moving average of $16.01.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly 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 company had revenue of $48.00 million during 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 firm’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.94) earnings per share. Equities analysts expect that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Arcus Biosciences Company 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.