Arcus Biosciences, Inc. (NYSE:RCUS) Receives Average Rating of “Moderate Buy” from Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.00.

Several equities analysts recently commented on RCUS shares. HC Wainwright boosted their price objective on shares of Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Wells Fargo & Company boosted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price objective (down previously from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Finally, UBS Group restated a “buy” rating on shares of Arcus Biosciences in a research report on Monday, December 15th.

Arcus Biosciences Price Performance

NYSE RCUS opened at $21.05 on Tuesday. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.27 billion, a PE ratio of -6.12 and a beta of 0.84. Arcus Biosciences has a 52 week low of $6.50 and a 52 week high of $26.40. The firm’s 50-day simple moving average is $22.85 and its two-hundred day simple moving average is $17.42.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, November 5th. The company reported ($1.27) earnings per share for the quarter, topping the consensus estimate of ($1.28) by $0.01. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. During the same period in the prior year, the business earned ($1.00) earnings per share. Arcus Biosciences’s quarterly revenue was down 45.8% compared to the same quarter last year. Research analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Activity

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 6,810 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total value of $150,909.60. Following the completion of the transaction, the general counsel owned 124,734 shares of the company’s stock, valued at $2,764,105.44. The trade was a 5.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Markus sold 4,494 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total transaction of $99,587.04. Following the completion of the transaction, the insider directly owned 65,647 shares in the company, valued at $1,454,737.52. The trade was a 6.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 315,887 shares of company stock worth $7,087,692. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after purchasing an additional 1,333,421 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Arcus Biosciences by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock valued at $12,995,000 after buying an additional 207,097 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Arcus Biosciences by 173.5% during the 3rd quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after buying an additional 863,162 shares in the last quarter. Wellington Management Group LLP lifted its position in Arcus Biosciences by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock worth $17,222,000 after buying an additional 330,268 shares during the last quarter. Finally, Sofinnova Investments Inc. boosted its stake in Arcus Biosciences by 17.2% in the second quarter. Sofinnova Investments Inc. now owns 1,216,016 shares of the company’s stock worth $9,898,000 after buying an additional 178,240 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company 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.