Arcus Biosciences, Inc. (NYSE:RCUS) Receives $36.40 Consensus Price Target from Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $36.40.

A number of equities research analysts have recently issued reports on RCUS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research report on Monday, April 20th. HC Wainwright lifted their price target on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Lifesci Capital began coverage on Arcus Biosciences in a research note on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, Wedbush boosted their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd.

Insider Transactions at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,020,002.37. The trade was 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 company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction 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 position. The SEC filing for this sale provides additional information. 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 ninety days. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Large investors have recently added to or reduced their stakes in the company. Tema ETFs LLC boosted its position in shares of Arcus Biosciences by 10.5% in the second quarter. Tema ETFs LLC now owns 83,140 shares of the company’s stock worth $2,563,000 after buying an additional 7,927 shares during the period. Handelsbanken Fonder AB acquired a new position in Arcus Biosciences during the second quarter valued at $1,202,000. GAMMA Investing LLC raised its position in Arcus Biosciences by 10.0% during the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after buying an additional 359 shares during the period. California State Teachers Retirement System lifted its stake in Arcus Biosciences by 16.7% in the 1st quarter. California State Teachers Retirement System now owns 105,776 shares of the company’s stock worth $2,285,000 after acquiring an additional 15,110 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Arcus Biosciences by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after acquiring an additional 607 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Trading Up 6.7%

Arcus Biosciences stock opened at $28.23 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -8.88 and a beta of 0.80. Arcus Biosciences has a 1 year low of $8.84 and a 1 year high of $31.74. The firm’s 50 day moving average price is $26.91 and its two-hundred day moving average price is $24.02.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The company had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences’s revenue was down 39.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.14) EPS. On average, research analysts predict that Arcus Biosciences will post -3.66 EPS for the current fiscal year.

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.