Arcus Biosciences (NYSE:RCUS) Reaches New 52-Week High – Still a Buy?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $29.04 and last traded at $28.3940, with a volume of 71703 shares changing hands. The stock had previously closed at $28.18.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RCUS. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a research report on Monday, April 20th. The Goldman Sachs Group increased their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. HC Wainwright restated a “buy” rating and issued a $32.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 2nd. Citigroup upped their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Wedbush increased their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Arcus Biosciences Price Performance

The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -9.11 and a beta of 0.85. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. The company’s fifty day moving average is $24.40 and its two-hundred day moving average is $22.90.

Arcus Biosciences (NYSE:RCUS) last issued its 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). The business had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s revenue was down 39.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.14) EPS. Equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,562 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.77, for a total transaction of $66,022.74. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the transaction, the chief financial officer owned 84,161 shares of the company’s stock, valued at $2,157,046.43. The trade was 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. 9.60% of the stock is owned by insiders.

Institutional Trading of Arcus Biosciences

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after acquiring an additional 3,918,220 shares during the last quarter. Marshall Wace LLP acquired a new stake in Arcus Biosciences in the fourth quarter worth $80,731,000. Suvretta Capital Management LLC raised 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 purchasing an additional 1,500,000 shares during the period. Toronto Dominion Bank acquired a new stake in Arcus Biosciences in the fourth quarter worth $35,380,000. Finally, Vanguard Group Inc. boosted its position in shares of Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after purchasing an additional 1,333,421 shares in the last quarter. 92.89% of the stock is currently 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.