Citigroup Forecasts Strong Price Appreciation for Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences (NYSE:RCUS) had its price objective increased by stock analysts at Citigroup from $44.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 105.76% from the company’s current price.

Other research analysts also recently issued reports about the company. Leerink Partners boosted their price target on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company set a $23.00 price objective on Arcus Biosciences and gave the company an “equal weight” rating in a research report on Thursday, February 12th. The Goldman Sachs Group upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.00 to $28.00 in a research note on Monday, January 12th. Truist Financial set a $30.00 price target on Arcus Biosciences in a research note on Friday, December 12th. Finally, HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a report on Monday. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Arcus Biosciences Trading Down 3.6%

NYSE:RCUS traded down $0.81 on Thursday, reaching $21.87. The stock had a trading volume of 536,050 shares, compared to its average volume of 1,244,733. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $26.40. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -6.63 and a beta of 0.85. The firm’s fifty day moving average is $21.56 and its two-hundred day moving average is $18.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.36 and a quick ratio of 4.36.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. The business had revenue of $33.00 million during the quarter, compared to analyst estimates of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The company’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.03) earnings per share. Equities analysts expect that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Juan C. Jaen sold 31,823 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.41, for a total value of $681,330.43. Following the transaction, the president owned 922,240 shares in the company, valued at approximately $19,745,158.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert C. Goeltz II sold 6,702 shares of Arcus Biosciences stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $146,639.76. Following the transaction, the chief financial officer directly owned 80,436 shares in the company, valued at approximately $1,759,939.68. This trade represents a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 180,990 shares of company stock worth $3,974,764. 9.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in RCUS. Wellington Management Group LLP increased its holdings in Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after purchasing an additional 3,918,220 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Arcus Biosciences during the fourth quarter worth about $80,731,000. Suvretta Capital Management LLC boosted its position in shares of 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 buying an additional 1,500,000 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Arcus Biosciences in the fourth quarter valued at about $35,380,000. Finally, Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 20.1% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.