Arcus Biosciences (NYSE:RCUS) Stock Rating Reaffirmed by Truist Financial

Truist Financial reissued their buy rating on shares of Arcus Biosciences (NYSE:RCUS) in a report issued on Monday, Benzinga reports. Truist Financial currently has a $50.00 price target on the stock.

A number of other research analysts have also issued reports on the stock. Wedbush reiterated an outperform rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, February 22nd. Mizuho dropped their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a buy rating for the company in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $41.25.

Arcus Biosciences Trading Up 9.5 %

RCUS opened at $18.24 on Monday. The company’s 50 day moving average is $17.05 and its 200-day moving average is $16.96. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $25.47. The company has a market cap of $1.66 billion, a P/E ratio of -4.40 and a beta of 0.82.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.01. The company had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted ($0.93) EPS. On average, equities analysts forecast that Arcus Biosciences will post -3.16 EPS for the current year.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 2,004 shares of Arcus Biosciences stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $20.00, for a total value of $40,080.00. Following the completion of the sale, the chief financial officer now owns 51,831 shares of the company’s stock, valued at approximately $1,036,620. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 2,004 shares of Arcus Biosciences stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $20.00, for a total transaction of $40,080.00. Following the transaction, the chief financial officer now directly owns 51,831 shares of the company’s stock, valued at approximately $1,036,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Juan C. Jaen sold 6,975 shares of Arcus Biosciences stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.09, for a total transaction of $140,127.75. Following the transaction, the president now directly owns 1,215,265 shares in the company, valued at $24,414,673.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,883 shares of company stock valued at $992,267. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in Arcus Biosciences by 55.1% in the 1st quarter. State Street Corp now owns 5,496,253 shares of the company’s stock valued at $100,251,000 after acquiring an additional 1,951,970 shares during the period. Bank of America Corp DE increased its position in shares of Arcus Biosciences by 726.7% during the first quarter. Bank of America Corp DE now owns 1,149,218 shares of the company’s stock valued at $20,962,000 after buying an additional 1,010,207 shares during the period. Decheng Capital LLC bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at about $16,613,000. Point72 Asset Management L.P. increased its position in shares of Arcus Biosciences by 17,148.1% during the fourth quarter. Point72 Asset Management L.P. now owns 768,750 shares of the company’s stock valued at $14,683,000 after buying an additional 764,293 shares during the period. Finally, BlackRock Inc. increased its position in shares of Arcus Biosciences by 8.0% during the first quarter. BlackRock Inc. now owns 10,139,020 shares of the company’s stock valued at $184,936,000 after buying an additional 749,972 shares during the period. 92.89% of the stock is currently owned by institutional investors.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.