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

Arcus Biosciences, Inc. (NYSE:RCUS) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $35.10.

RCUS has been the subject of several analyst reports. Wedbush increased their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Lifesci Capital began coverage on Arcus Biosciences in a research report on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price on the stock. Leerink Partners set a $47.00 target price on Arcus Biosciences in a research report on Monday, April 20th. Truist Financial started coverage on Arcus Biosciences in a research note on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Finally, Citigroup lifted their price target on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th.

Insiders Place Their Bets

In other Arcus Biosciences 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 owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer owned 84,161 shares in the company, valued at $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. 9.60% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

Several large investors have recently bought and sold shares of RCUS. Wellington Management Group LLP increased its stake in shares of Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after purchasing an additional 3,918,220 shares in the last quarter. Marshall Wace LLP purchased a new stake in Arcus Biosciences in the 4th quarter valued at approximately $80,731,000. Suvretta Capital Management LLC grew its holdings in Arcus Biosciences by 40.7% during the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after buying an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Arcus Biosciences during the 4th quarter valued at $35,380,000. Finally, Vanguard Group Inc. increased its position 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 buying an additional 1,333,421 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 0.2%

RCUS stock opened at $23.85 on Monday. The company has a fifty day moving average price of $24.05 and a 200 day moving average price of $22.92. Arcus Biosciences has a 12 month low of $7.91 and a 12 month high of $28.72. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -7.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $29.49 million. During the same period in the prior year, the business earned ($1.14) EPS. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. Sell-side analysts expect that Arcus Biosciences will post -3.66 earnings per share for the current year.

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.