Arcus Biosciences (NYSE:RCUS) Upgraded at Truist Financial

Truist Financial upgraded shares of Arcus Biosciences (NYSE:RCUS) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on RCUS. Citigroup upped their target price on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Wells Fargo & Company set a $23.00 price target on Arcus Biosciences and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Leerink Partners upped their price objective on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Bank of America increased their price objective on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.20.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $20.31 on Wednesday. The company has a market cap of $2.55 billion, a P/E ratio of -6.15 and a beta of 0.85. The firm has a fifty day moving average price of $21.41 and a 200 day moving average price of $20.06. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.22. The company had revenue of $33.00 million for the quarter, compared to analyst estimates of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.03) earnings per share. Sell-side analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 6,552 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total transaction of $153,185.76. Following the transaction, the chief financial officer owned 67,924 shares of the company’s stock, valued at $1,588,063.12. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Juan C. Jaen sold 31,823 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $21.41, for a total value of $681,330.43. Following the completion of the transaction, the president directly owned 922,240 shares in the company, valued at $19,745,158.40. This trade represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Arcus Biosciences by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after purchasing an additional 482 shares in the last quarter. Amalgamated Bank boosted its position in Arcus Biosciences by 3.9% in the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock valued at $266,000 after buying an additional 736 shares during the last quarter. Creative Planning boosted its position in Arcus Biosciences by 2.7% in the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after buying an additional 771 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after acquiring an additional 881 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Arcus Biosciences by 1.1% during the fourth quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock valued at $2,203,000 after acquiring an additional 1,000 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.