Exchange Traded Concepts LLC Has $109,000 Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Exchange Traded Concepts LLC increased its stake in Arcus Biosciences, Inc. (NYSE:RCUS) by 40.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,922 shares of the company’s stock after purchasing an additional 4,013 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Arcus Biosciences were worth $109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCUS. Gilead Sciences Inc. acquired a new stake in Arcus Biosciences in the 4th quarter worth approximately $447,610,000. Boxer Capital Management LLC acquired a new stake in Arcus Biosciences in the 4th quarter worth approximately $23,857,000. Braidwell LP acquired a new stake in Arcus Biosciences in the 4th quarter worth approximately $11,943,000. Millennium Management LLC lifted its holdings in Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after purchasing an additional 679,267 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Arcus Biosciences in the 4th quarter worth approximately $6,928,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Stock Performance

RCUS opened at $8.77 on Wednesday. The stock has a market cap of $928.13 million, a PE ratio of -2.09 and a beta of 0.83. The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.09. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $18.98. The stock’s 50 day simple moving average is $8.77 and its 200-day simple moving average is $10.86.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.12). The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative net margin of 258.94% and a negative return on equity of 70.58%. The business’s revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analysts Set New Price Targets

RCUS has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Barclays dropped their price target on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group dropped their price target on Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.29.

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.