Truist Financial Has Lowered Expectations for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS) had its target price lowered by investment analysts at Truist Financial from $41.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s price objective indicates a potential upside of 115.01% from the company’s current price.

A number of other analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Thursday, October 15th. Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. TD Cowen assumed coverage on Arcus Biosciences in a report on Wednesday, September 16th. They set a “buy” rating on the stock. Wells Fargo & Company boosted their target price on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Arcus Biosciences in a report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.18.

Arcus Biosciences Stock Performance

Shares of RCUS stock traded down $0.71 during trading hours on Thursday, reaching $18.60. The stock had a trading volume of 214,892 shares, compared to its average volume of 1,417,147. The firm has a 50-day simple moving average of $24.26 and a 200-day simple moving average of $24.58. The firm has a market capitalization of $2.37 billion, a PE ratio of -4.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. Arcus Biosciences has a twelve month low of $17.43 and a twelve month high of $31.74.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.11). The business had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The business’s quarterly revenue was down 65.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.27) earnings per share. As a group, equities analysts forecast that Arcus Biosciences will post -3.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of Arcus Biosciences by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,659 shares of the company’s stock worth $572,000 after purchasing an additional 895 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Arcus Biosciences in the 3rd quarter valued at approximately $45,000. Sterling Capital Management LLC boosted its holdings in shares of Arcus Biosciences by 328.4% in the 3rd quarter. Sterling Capital Management LLC now owns 2,716 shares of the company’s stock valued at $70,000 after buying an additional 2,082 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Arcus Biosciences by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,855 shares of the company’s stock valued at $125,000 after buying an additional 889 shares during the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Arcus Biosciences by 59.7% in the second quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock valued at $1,615,000 after buying an additional 19,578 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences News Roundup

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: Wedbush maintained an Outperform rating while lowering its price target from $49 to $45. The revised target still implies substantial upside from the referenced $19.10 share price. Wedbush rating information
• Positive Sentiment: Third-quarter revenue was $9 million, above analyst estimates of $7.58 million. Arcus third-quarter results and pipeline update
• Neutral Sentiment: Analysts’ average price target was reported at $39.64, indicating favorable potential relative to the referenced share price, though targets are estimates and not guarantees. Analyst average price target report
• Negative Sentiment: Arcus reported a third-quarter loss of $1.00 per share, worse than consensus estimates of a $0.89 loss. Revenue was also down 65.4% from the same quarter last year, highlighting ongoing pressure despite the estimate beat. Arcus Q3 earnings report

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.