State of New Jersey Common Pension Fund D Invests $693,000 in Arcus Biosciences, Inc. $RCUS

State of New Jersey Common Pension Fund D purchased a new stake in shares of Arcus Biosciences, Inc. (NYSE:RCUS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,071 shares of the company’s stock, valued at approximately $693,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in 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 purchasing an additional 482 shares in the last quarter. Amalgamated Bank boosted its position in shares of Arcus Biosciences by 3.9% in the third quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $266,000 after buying an additional 736 shares during the period. Creative Planning grew its holdings in shares of Arcus Biosciences by 2.7% during the third quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after buying an additional 771 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 buying an additional 1,649 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position 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 buying an additional 1,674 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 2.0%

Shares of NYSE RCUS opened at $24.87 on Tuesday. The business has a 50 day simple moving average of $23.14 and a 200 day simple moving average of $22.20. Arcus Biosciences, Inc. has a 52 week low of $7.91 and a 52 week high of $28.72. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -7.82 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RCUS. The Goldman Sachs Group increased their price objective on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Truist Financial upgraded Arcus Biosciences to a “strong-buy” rating in a report on Monday, May 4th. Citigroup raised their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Wells Fargo & Company set a $23.00 price objective on shares of Arcus Biosciences and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Finally, Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

About Arcus Biosciences

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.