State Board of Administration of Florida Retirement System Buys 2,150 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

State Board of Administration of Florida Retirement System lifted its holdings in Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) by 12.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 19,122 shares of the company’s stock after buying an additional 2,150 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Arcus Biosciences were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its stake in shares of Arcus Biosciences by 8.0% in the 1st quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock worth $251,000 after purchasing an additional 590 shares during the period. Arizona State Retirement System lifted its stake in shares of Arcus Biosciences by 10.6% in the 2nd quarter. Arizona State Retirement System now owns 11,555 shares of the company’s stock worth $293,000 after purchasing an additional 1,111 shares during the period. American Century Companies Inc. lifted its stake in shares of Arcus Biosciences by 1.7% in the 1st quarter. American Century Companies Inc. now owns 117,715 shares of the company’s stock worth $3,715,000 after purchasing an additional 1,911 shares during the period. Lazard Asset Management LLC bought a new position in shares of Arcus Biosciences in the 1st quarter worth approximately $76,000. Finally, KBC Group NV bought a new position in shares of Arcus Biosciences in the 2nd quarter worth approximately $102,000. Institutional investors own 72.61% of the company’s stock.

Insider Activity at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 12,677 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $26.28, for a total value of $333,151.56. Following the completion of the transaction, the chief operating officer now directly owns 130,942 shares of the company’s stock, valued at $3,441,155.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.70% of the stock is currently owned by insiders.

Arcus Biosciences Price Performance

Shares of RCUS opened at $27.31 on Friday. Arcus Biosciences, Inc. has a 1 year low of $16.74 and a 1 year high of $49.10. The company has a 50 day simple moving average of $26.67 and a two-hundred day simple moving average of $25.10. The firm has a market cap of $1.98 billion, a P/E ratio of 29.68 and a beta of 0.61.

Analyst Upgrades and Downgrades

RCUS has been the topic of several recent research reports. Wedbush lowered their price objective on shares of Arcus Biosciences from $42.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. Morgan Stanley started coverage on shares of Arcus Biosciences in a research note on Tuesday, October 11th. They set an “overweight” rating and a $40.00 target price on the stock. Citigroup decreased their target price on shares of Arcus Biosciences from $48.00 to $40.00 in a research note on Thursday, August 18th. Bank of America started coverage on shares of Arcus Biosciences in a research note on Friday. They set a “neutral” rating and a $33.00 target price on the stock. Finally, SVB Leerink decreased their target price on shares of Arcus Biosciences from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Arcus Biosciences

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Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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

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