Arcus Biosciences (NYSE:RCUS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Arcus Biosciences (NYSE:RCUS) had its price objective lifted by equities researchers at Wells Fargo & Company from $23.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 5.75% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a report on Monday, April 20th. Morgan Stanley boosted their price objective on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. HC Wainwright upped their price objective on shares of Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. The Goldman Sachs Group lifted their target price on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Lifesci Capital assumed 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. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.90.

Arcus Biosciences Stock Down 0.4%

Arcus Biosciences stock traded down $0.12 during midday trading on Thursday, hitting $27.59. 1,706,821 shares of the company were exchanged, compared to its average volume of 1,241,265. The company has a market cap of $3.47 billion, a PE ratio of -8.69 and a beta of 0.80. Arcus Biosciences has a fifty-two week low of $8.88 and a fifty-two week high of $31.74. The company’s fifty day moving average price is $27.26 and its 200-day moving average price is $24.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.17. The company had revenue of $41.00 million during the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s revenue for the quarter was down 74.4% compared to the same quarter last year. On average, research analysts predict that Arcus Biosciences will post -3.66 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the completion of the transaction, the chief accounting officer owned 39,581 shares in the company, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their position. The sale 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 value of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares in the company, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 110,325 shares of company stock worth $3,174,319. 7.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Arcus Biosciences by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after buying an additional 1,333,421 shares during the last quarter. Suvretta Capital Management LLC lifted its holdings in Arcus Biosciences by 40.7% in the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after acquiring an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after acquiring an additional 3,918,220 shares during the period. State Street Corp boosted its stake in Arcus Biosciences by 34.8% in the fourth quarter. State Street Corp now owns 4,576,969 shares of the company’s stock valued at $109,069,000 after acquiring an additional 1,182,115 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Arcus Biosciences during the fourth quarter valued at approximately $80,731,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.