Arcus Biosciences (NYSE:RCUS) Stock Rating Reaffirmed by Truist Financial

Truist Financial reiterated their buy rating on shares of Arcus Biosciences (NYSE:RCUS) in a research note published on Monday morning, Benzinga reports. They currently have a $50.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Mizuho lowered their price target on Arcus Biosciences from $51.00 to $42.00 and set a buy rating for the company in a report on Tuesday, January 30th. Wedbush restated an outperform rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences currently has an average rating of Moderate Buy and an average price target of $41.25.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $18.24 on Monday. The stock’s 50 day moving average price is $17.05 and its 200 day moving average price is $16.96. The firm has a market capitalization of $1.66 billion, a PE ratio of -4.40 and a beta of 0.82. Arcus Biosciences has a one year low of $12.95 and a one year high of $25.47.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. During the same period in the previous year, the business earned ($0.93) EPS. Arcus Biosciences’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts forecast that Arcus Biosciences will post -3.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, President Juan C. Jaen sold 6,975 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.09, for a total transaction of $140,127.75. Following the completion of the transaction, the president now owns 1,215,265 shares in the company, valued at approximately $24,414,673.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Jennifer Jarrett sold 13,449 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $17.92, for a total value of $241,006.08. Following the completion of the sale, the chief operating officer now owns 226,804 shares in the company, valued at $4,064,327.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Juan C. Jaen sold 6,975 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $20.09, for a total value of $140,127.75. Following the completion of the sale, the president now owns 1,215,265 shares of the company’s stock, valued at approximately $24,414,673.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,883 shares of company stock worth $992,267. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after purchasing an additional 186,898 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Arcus Biosciences by 0.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 592,291 shares of the company’s stock worth $11,313,000 after purchasing an additional 4,083 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Arcus Biosciences by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,858 shares of the company’s stock worth $628,000 after purchasing an additional 1,645 shares during the period. GSA Capital Partners LLP raised its position in shares of Arcus Biosciences by 329.9% during the fourth quarter. GSA Capital Partners LLP now owns 90,873 shares of the company’s stock worth $1,736,000 after purchasing an additional 69,735 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Arcus Biosciences by 439.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 10,787 shares of the company’s stock worth $206,000 after purchasing an additional 8,787 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.