Arcus Biosciences, Inc. (NYSE:RCUS) Receives Average Rating of “Moderate Buy” from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has received an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $41.25.

A number of research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a report on Thursday, February 22nd. Mizuho lowered their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Truist Financial reissued a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a research report on Monday, March 25th.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $15.55 on Friday. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $25.47. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.75 and a beta of 0.81. The stock has a fifty day moving average of $17.48 and a two-hundred day moving average of $16.61.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.01. The firm had revenue of $31.00 million during the quarter, compared to analysts’ expectations of $28.30 million. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.93) EPS. On average, analysts forecast that Arcus Biosciences will post -3.59 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the transaction, the president now owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Gilead Sciences, Inc. purchased 15,238,095 shares of Arcus Biosciences stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the acquisition, the insider now owns 30,061,124 shares in the company, valued at approximately $631,283,604. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Juan C. Jaen sold 3,900 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.06, for a total transaction of $78,234.00. Following the transaction, the president now directly owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,455 shares of company stock valued at $1,014,779. Corporate insiders own 13.80% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several large investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its stake in Arcus Biosciences by 20.8% during the 3rd quarter. Citigroup Inc. now owns 145,729 shares of the company’s stock valued at $2,616,000 after purchasing an additional 25,083 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arcus Biosciences by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock worth $80,664,000 after purchasing an additional 61,040 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Arcus Biosciences during the 3rd quarter valued at $1,412,000. Seven Eight Capital LP acquired a new stake in Arcus Biosciences during the third quarter valued at $292,000. Finally, Dark Forest Capital Management LP bought a new position in Arcus Biosciences during the third quarter valued at approximately $686,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.