Arcus Biosciences (NYSE:RCUS) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Arcus Biosciences (NYSE:RCUS) announced its quarterly earnings data on Tuesday. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10), FiscalAI reports. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The firm had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.49 million. During the same period last year, the business posted ($1.14) EPS. The company’s revenue was down 39.3% compared to the same quarter last year.

Here are the key takeaways from Arcus Biosciences’ conference call:

• Arcus now has full ownership of casdatifan and says its phase III PEAK-1 (second-line CAS + cabozantinib) is enrolling rapidly, targeting full enrollment by year-end 2026 and a frontline phase III start by year-end.
• The company highlights differentiated clinical data for casdatifan — ARC-20 100 mg monotherapy showed a confirmed ORR of 45% and a median PFS of 15.1 months in late-line cohorts — and argues this superior pharmacodynamic profile explains competitive advantages versus belzutifan.
• Arcus reports a strong balance sheet with $876 million in cash and a runway into at least H2 2028, expects about $600M at year-end 2026, and plans to focus >80% of portfolio spend on CAS by 2027 while reducing overall R&D/headcount.
• Non-oncology programs and other oncology studies remain active — the PRISM-1 Phase III quemliclustat pancreatic trial is fully enrolled with a H1 2027 readout, AB102 (MRGPRX2 antagonist) is expected to enter the clinic in Q3 2026, and oral TNF and CCR6 candidates are planned for 2027 — all carry typical clinical risk/uncertainty.
• The company announced discontinuation of STAR-121 (domvanalimab + zim + chemo in 1L NSCLC) for futility, a setback for the anti-TIGIT program, although exploratory zim + chemo data were consistent with expectations.

Arcus Biosciences Stock Performance

RCUS stock traded up $0.04 during midday trading on Tuesday, reaching $26.09. 1,150,829 shares of the company’s stock traded hands, compared to its average volume of 1,297,410. The company has a 50-day moving average price of $22.69 and a two-hundred day moving average price of $21.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36. Arcus Biosciences has a 52 week low of $7.06 and a 52 week high of $28.72. The firm has a market capitalization of $3.28 billion, a PE ratio of -7.90 and a beta of 0.87.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of research reports. Wall Street Zen upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Truist Financial raised shares of Arcus Biosciences to a “strong-buy” rating in a research report on Monday. Citigroup lifted their price objective on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and a consensus target price of $32.44.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of RCUS. T. Rowe Price Investment Management Inc. bought a new stake in Arcus Biosciences during the 4th quarter valued at $39,000. Strs Ohio purchased a new position in shares of Arcus Biosciences during the 1st quarter valued at $67,000. Tower Research Capital LLC TRC grew its position in shares of Arcus Biosciences by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock valued at $69,000 after purchasing an additional 5,476 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Arcus Biosciences in the second quarter worth $97,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Arcus Biosciences in the second quarter worth $180,000. Institutional investors own 92.89% of the company’s stock.

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.