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

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $41.25.

Several equities analysts have commented on the stock. Mizuho dropped their price target on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday, May 9th. Finally, Truist Financial reiterated a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a research note on Monday, March 25th.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 3,900 shares of the company’s 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 in the company, valued at $24,299,981.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Jennifer Jarrett sold 24,555 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.07, for a total transaction of $492,818.85. Following the completion of the sale, the chief operating officer now owns 274,323 shares in the company, valued at $5,505,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Juan C. Jaen sold 3,900 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.06, for a total transaction of $78,234.00. Following the sale, the president now owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. Insiders sold 53,455 shares of company stock worth $1,014,779 over the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Arcus Biosciences by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after purchasing an additional 1,906 shares in the last quarter. Vanguard Group Inc. increased its holdings in Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Arcus Biosciences by 16.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,492 shares of the company’s stock valued at $319,000 after buying an additional 2,420 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Arcus Biosciences by 26.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after buying an additional 145,298 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Arcus Biosciences by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after buying an additional 746 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $16.75 on Thursday. The firm has a 50 day moving average price of $16.65 and a 200 day moving average price of $16.67. The company has a market capitalization of $1.52 billion, a PE ratio of -5.39 and a beta of 0.91. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.92. The business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $28.77 million. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The company’s quarterly revenue was up 480.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.09) earnings per share. As a group, equities research analysts forecast that Arcus Biosciences will post -3.02 earnings per share for the current year.

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.