Partner Fund Management L.P. lowered its stake in shares of Arcus Biosciences Inc (NYSE:RCUS) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 723,834 shares of the company’s stock after selling 44,445 shares during the period. Partner Fund Management L.P. owned 1.63% of Arcus Biosciences worth $10,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Hillhouse Capital Management Ltd. raised its position in shares of Arcus Biosciences by 80.5% during the second quarter. Hillhouse Capital Management Ltd. now owns 767,128 shares of the company’s stock valued at $9,390,000 after buying an additional 342,128 shares during the last quarter. JPMorgan Chase & Co. increased its position in Arcus Biosciences by 84.0% in the third quarter. JPMorgan Chase & Co. now owns 472,072 shares of the company’s stock worth $6,581,000 after purchasing an additional 215,534 shares during the last quarter. BlackRock Inc. increased its position in Arcus Biosciences by 29.9% in the third quarter. BlackRock Inc. now owns 435,424 shares of the company’s stock worth $6,069,000 after purchasing an additional 100,154 shares during the last quarter. Vident Investment Advisory LLC bought a new stake in Arcus Biosciences in the second quarter worth $1,911,000. Finally, Baker BROS. Advisors LP bought a new stake in Arcus Biosciences in the second quarter worth $1,488,000. Hedge funds and other institutional investors own 39.11% of the company’s stock.

Shares of RCUS opened at $12.17 on Thursday. Arcus Biosciences Inc has a fifty-two week low of $9.50 and a fifty-two week high of $22.10.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.13. The business had revenue of $4.29 million during the quarter, compared to the consensus estimate of $1.40 million. Equities analysts expect that Arcus Biosciences Inc will post -2.04 EPS for the current year.

Several brokerages recently weighed in on RCUS. Zacks Investment Research cut shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Wedbush began coverage on shares of Arcus Biosciences in a research report on Tuesday, October 9th. They issued an “outperform” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Arcus Biosciences has a consensus rating of “Buy” and a consensus price target of $18.60.

In other news, President Juan C. Jaen acquired 10,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average cost of $11.80 per share, with a total value of $118,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.

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

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