Arcus Biosciences (NYSE:RCUS) Trading Up 6.6% on Analyst Upgrade

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price rose 6.6% during mid-day trading on Monday after HC Wainwright raised their price target on the stock from $32.00 to $45.00. HC Wainwright currently has a buy rating on the stock. Arcus Biosciences traded as high as $29.54 and last traded at $29.1640. Approximately 120,406 shares changed hands during trading, a decline of 90% from the average session volume of 1,244,699 shares. The stock had previously closed at $27.37.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research note on Monday, April 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday. Truist Financial began coverage on shares of Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 price target for the company. Finally, Wedbush raised their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Insider Activity

In other Arcus Biosciences news, 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 transaction, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the company’s stock in a transaction on Monday, June 1st. The shares were 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. The trade was a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 110,325 shares of company stock worth $3,174,319 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in Arcus Biosciences during the fourth quarter worth about $39,000. KBC Group NV acquired a new position in Arcus Biosciences in the 1st quarter valued at about $50,000. GAMMA Investing LLC grew its stake in shares of Arcus Biosciences by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after buying an additional 482 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Arcus Biosciences by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after buying an additional 607 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Price Performance

The stock’s fifty day moving average price is $26.15 and its 200-day moving average price is $23.65. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -9.11 and a beta of 0.80. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $29.48 million. During the same period in the previous year, the firm posted ($1.14) EPS. The firm’s quarterly revenue was down 39.3% compared to the same quarter last year. As a group, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share 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.