State of New Jersey Common Pension Fund D Purchases Shares of 29,071 Arcus Biosciences, Inc. $RCUS

State of New Jersey Common Pension Fund D purchased a new stake in Arcus Biosciences, Inc. (NYSE:RCUS) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 29,071 shares of the company’s stock, valued at approximately $693,000.

Several other large investors have also modified their holdings of RCUS. GAMMA Investing LLC boosted its holdings in shares of Arcus Biosciences by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after buying an additional 482 shares during the period. Amalgamated Bank raised its holdings in Arcus Biosciences by 3.9% in the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $266,000 after acquiring an additional 736 shares during the period. Creative Planning lifted its position in Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after acquiring an additional 771 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Arcus Biosciences by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,873 shares of the company’s stock valued at $440,000 after acquiring an additional 1,649 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in Arcus Biosciences by 7.8% during the fourth quarter. Yousif Capital Management LLC now owns 23,207 shares of the company’s stock valued at $509,000 after acquiring an additional 1,674 shares during the period. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $24.87 on Tuesday. Arcus Biosciences, Inc. has a 12 month low of $7.91 and a 12 month high of $28.72. The company has a market capitalization of $3.13 billion, a P/E ratio of -7.82 and a beta of 0.87. The stock has a 50 day moving average of $23.14 and a two-hundred day moving average of $22.20. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.49 million. During the same quarter in the previous year, the company posted ($1.14) earnings per share. The business’s revenue for the quarter was down 39.3% compared to the same quarter last year. As a group, equities analysts expect that Arcus Biosciences, Inc. will post -3.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Truist Financial raised Arcus Biosciences to a “strong-buy” rating in a report on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. The Goldman Sachs Group upped their price target on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Citigroup increased their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Arcus Biosciences Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.