Arcus Biosciences Inc (NYSE:RCUS) Position Cut by MML Investors Services LLC

MML Investors Services LLC cut its stake in Arcus Biosciences Inc (NYSE:RCUS) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,698 shares of the company’s stock after selling 1,962 shares during the quarter. MML Investors Services LLC owned approximately 0.11% of Arcus Biosciences worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp acquired a new position in shares of Arcus Biosciences in the second quarter worth about $774,000. JPMorgan Chase & Co. lifted its stake in shares of 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 acquiring an additional 215,534 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Arcus Biosciences by 32.0% in the third quarter. Bank of New York Mellon Corp now owns 21,185 shares of the company’s stock worth $295,000 after acquiring an additional 5,138 shares in the last quarter. BlackRock Inc. lifted its stake in shares of 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 acquiring an additional 100,154 shares in the last quarter. Finally, Platinum Investment Management Ltd. lifted its stake in shares of Arcus Biosciences by 81.4% in the third quarter. Platinum Investment Management Ltd. now owns 95,841 shares of the company’s stock worth $1,336,000 after acquiring an additional 43,000 shares in the last quarter. 49.11% of the stock is currently owned by institutional investors and hedge funds.

RCUS has been the topic of several research reports. Zacks Investment Research cut Arcus Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. BTIG Research initiated coverage on Arcus Biosciences in a research note on Monday, March 18th. They set a “buy” rating and a $20.00 price objective on the stock.

NYSE RCUS traded down $0.22 on Wednesday, hitting $10.78. 42,700 shares of the stock traded hands, compared to its average volume of 112,624. Arcus Biosciences Inc has a twelve month low of $8.57 and a twelve month high of $17.50. The stock has a market capitalization of $500.13 million and a P/E ratio of -7.54.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.14. Arcus Biosciences had a negative return on equity of 19.83% and a negative net margin of 594.39%. The firm had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $1.60 million. As a group, research analysts anticipate that Arcus Biosciences Inc will post -1.67 EPS for the current fiscal year.

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Arcus Biosciences 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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