Arcus Biosciences, Inc. (NYSE:RCUS) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) by 33.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,197 shares of the company’s stock after purchasing an additional 3,315 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arcus Biosciences were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RCUS. State Street Corp lifted its position in shares of Arcus Biosciences by 61.3% during the 2nd quarter. State Street Corp now owns 4,435,849 shares of the company’s stock valued at $112,404,000 after acquiring an additional 1,685,930 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Arcus Biosciences by 295.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 974,132 shares of the company’s stock valued at $24,685,000 after acquiring an additional 727,692 shares during the last quarter. Pictet Asset Management SA lifted its position in shares of Arcus Biosciences by 23.0% during the 2nd quarter. Pictet Asset Management SA now owns 1,912,551 shares of the company’s stock valued at $48,464,000 after acquiring an additional 357,539 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Arcus Biosciences by 3,891.5% during the 2nd quarter. Principal Financial Group Inc. now owns 331,777 shares of the company’s stock valued at $8,407,000 after acquiring an additional 323,465 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Arcus Biosciences by 77.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,969 shares of the company’s stock valued at $13,826,000 after acquiring an additional 190,527 shares during the last quarter. 72.97% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Trading Up 3.6 %

NYSE RCUS opened at $22.82 on Wednesday. The company has a market capitalization of $1.65 billion, a PE ratio of 24.80 and a beta of 0.87. Arcus Biosciences, Inc. has a 1-year low of $16.74 and a 1-year high of $39.75. The firm’s fifty day simple moving average is $25.15 and its 200-day simple moving average is $26.03.

Arcus Biosciences (NYSE:RCUSGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.15. The firm had revenue of $33.58 million for the quarter, compared to the consensus estimate of $18.26 million. Arcus Biosciences had a net margin of 18.44% and a return on equity of 10.35%. As a group, analysts predict that Arcus Biosciences, Inc. will post -3.84 EPS for the current year.

Insiders Place Their Bets

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 2,523 shares of the stock in a transaction on Friday, December 16th. The shares were sold at an average price of $30.75, for a total transaction of $77,582.25. Following the transaction, the general counsel now directly owns 28,584 shares of the company’s stock, valued at $878,958. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arcus Biosciences news, COO Jennifer Jarrett sold 16,482 shares of the company’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $30.75, for a total transaction of $506,821.50. Following the completion of the sale, the chief operating officer now directly owns 147,609 shares in the company, valued at $4,538,976.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Carolyn C. Tang sold 2,523 shares of the company’s stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $30.75, for a total transaction of $77,582.25. Following the sale, the general counsel now owns 28,584 shares of the company’s stock, valued at $878,958. The disclosure for this sale can be found here. Insiders have sold 38,937 shares of company stock valued at $1,197,313 over the last three months. 12.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America assumed coverage on Arcus Biosciences in a research report on Friday, November 18th. They set a “neutral” rating and a $33.00 price objective for the company. Morgan Stanley started coverage on Arcus Biosciences in a research report on Tuesday, October 11th. They set an “overweight” rating and a $40.00 price objective for the company. SVB Leerink reduced their target price on Arcus Biosciences from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Barclays reduced their target price on Arcus Biosciences from $60.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, December 21st. Finally, Citigroup increased their target price on Arcus Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.38.

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.

See Also

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

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