Arcus Biosciences (NYSE:RCUS) Given Buy Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Arcus Biosciences (NYSE:RCUS) in a report released on Monday, Benzinga reports. Truist Financial currently has a $50.00 target price on the stock.

Several other research analysts have also recently commented on the company. Mizuho lowered their target price on Arcus Biosciences from $51.00 to $42.00 and set a buy rating for the company in a research note on Tuesday, January 30th. Wedbush reiterated an outperform rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $41.25.

Arcus Biosciences Stock Up 9.5 %

NYSE:RCUS opened at $18.24 on Monday. Arcus Biosciences has a 52 week low of $12.95 and a 52 week high of $25.47. The company has a market capitalization of $1.66 billion, a P/E ratio of -4.40 and a beta of 0.82. The stock’s fifty day moving average is $17.05 and its two-hundred day moving average is $16.96.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.01. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The business had revenue of $31.00 million during the quarter, compared to analysts’ expectations of $28.30 million. During the same period in the previous year, the firm posted ($0.93) earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts anticipate that Arcus Biosciences will post -3.16 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Gilead Sciences, Inc. purchased 15,238,095 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the acquisition, the insider now directly owns 30,061,124 shares in the company, valued at $631,283,604. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Robert C. Goeltz II sold 2,004 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.00, for a total value of $40,080.00. Following the completion of the transaction, the chief financial officer now owns 51,831 shares in the company, valued at $1,036,620. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Gilead Sciences, Inc. acquired 15,238,095 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the transaction, the insider now owns 30,061,124 shares in the company, valued at approximately $631,283,604. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 50,883 shares of company stock valued at $992,267. 13.80% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BluePath Capital Management LLC acquired a new stake in Arcus Biosciences in the 3rd quarter worth about $28,000. GAMMA Investing LLC acquired a new position in shares of Arcus Biosciences in the 4th quarter valued at about $31,000. Osaic Holdings Inc. lifted its stake in shares of Arcus Biosciences by 51.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,620 shares of the company’s stock valued at $34,000 after purchasing an additional 550 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at about $36,000. Finally, Captrust Financial Advisors lifted its stake in shares of Arcus Biosciences by 402.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,072 shares of the company’s stock valued at $53,000 after purchasing an additional 1,660 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.