Arcus Biosciences (NYSE:RCUS) Price Target Raised to $26.00

Arcus Biosciences (NYSE:RCUS) had its target price upped by equities research analysts at Wells Fargo & Company from $23.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 5.75% from the stock’s previous close.

A number of other research firms have also issued reports on RCUS. Morgan Stanley increased their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. HC Wainwright boosted their target price on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Finally, Wedbush upped their target price on shares of Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.90.

Arcus Biosciences Trading Down 0.4%

NYSE:RCUS traded down $0.12 during trading hours on Thursday, reaching $27.59. 1,706,821 shares of the stock were exchanged, compared to its average volume of 1,241,265. Arcus Biosciences has a twelve month low of $8.88 and a twelve month high of $31.74. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $27.26 and a two-hundred day moving average of $24.18. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -8.69 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.Arcus Biosciences’s revenue for the quarter was down 74.4% compared to the same quarter last year. On average, equities analysts predict that Arcus Biosciences will post -3.66 EPS for the current year.

Insiders Place Their Bets

In other news, President Juan C. Jaen sold 48,502 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. This represents a 5.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 110,325 shares of company stock valued at $3,174,319 over the last quarter. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Arcus Biosciences by 253.9% during the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after purchasing an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Arcus Biosciences by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after buying an additional 3,565 shares during the period. Millennium Management LLC increased its position in shares of Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after acquiring an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Arcus Biosciences by 106.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after acquiring an additional 470,755 shares during the period. Finally, Strs Ohio acquired a new position in shares of Arcus Biosciences during the 1st quarter valued at $67,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.