Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) PT at $35.10

Arcus Biosciences, Inc. (NYSE:RCUS) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $35.10.

RCUS has been the subject of a number of research reports. Wedbush raised their target price on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Leerink Partners set a $47.00 target price on Arcus Biosciences in a research note on Monday, April 20th. HC Wainwright restated a “buy” rating and issued a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Citigroup raised their target price on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group raised their target price on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $23.85 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a fifty day moving average price of $24.05 and a two-hundred day moving average price of $22.92. Arcus Biosciences has a 52-week low of $7.91 and a 52-week high of $28.72. The firm has a market capitalization of $3.00 billion, a P/E ratio of -7.50 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.49 million. During the same quarter in the prior year, the company earned ($1.14) earnings per share. The business’s revenue was down 39.3% compared to the same quarter last year. As a group, analysts anticipate that Arcus Biosciences will post -3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Alexander Azoy sold 2,562 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This trade represents 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. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Arcus Biosciences by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after purchasing an additional 482 shares during the period. Royal Bank of Canada raised its holdings in Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after purchasing an additional 607 shares during the last quarter. Creative Planning raised its holdings in Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after purchasing an additional 771 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Arcus Biosciences by 1.1% during the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after purchasing an additional 1,000 shares during the last quarter. 92.89% of the stock is currently 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.