Principal Financial Group Inc. Increases Stock Position in Arcus Biosciences, Inc. (NYSE:RCUS)

Principal Financial Group Inc. increased its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 27.1% during the first quarter, Holdings Channel.com reports. The firm owned 334,981 shares of the company’s stock after buying an additional 71,464 shares during the period. Principal Financial Group Inc.’s holdings in Arcus Biosciences were worth $2,630,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RCUS. Lazard Asset Management LLC raised its position in shares of Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after acquiring an additional 6,078 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Arcus Biosciences by 40.5% during the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company’s stock valued at $109,000 after purchasing an additional 4,013 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Arcus Biosciences by 21.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company’s stock valued at $121,000 after purchasing an additional 2,700 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Arcus Biosciences by 21.9% in the first quarter. Teacher Retirement System of Texas now owns 18,227 shares of the company’s stock worth $143,000 after purchasing an additional 3,275 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Arcus Biosciences by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company’s stock worth $144,000 after purchasing an additional 6,453 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Price Performance

Shares of RCUS opened at $9.15 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.37 and a quick ratio of 5.37. The company’s fifty day moving average price is $8.97 and its 200-day moving average price is $9.99. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98. The firm has a market capitalization of $968.89 million, a PE ratio of -2.18 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The firm had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $38.61 million. Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. The company’s revenue for the quarter was down 80.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a report on Wednesday, May 7th. Barclays decreased their price objective on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley reduced their target price 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $21.29.

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.