Arcus Biosciences (NYSE:RCUS) Given “Outperform” Rating at Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report released on Wednesday, Benzinga reports. They presently have a $43.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 66.06% from the company’s previous close.

Other analysts have also recently issued reports about the company. Lifesci Capital began coverage on Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 target price for the company. Wells Fargo & Company upped their target price on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. HC Wainwright upped their target price on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price target on shares of Arcus Biosciences in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.30.

Arcus Biosciences Trading Up 1.0%

NYSE:RCUS traded up $0.25 during trading hours on Wednesday, hitting $25.90. The company had a trading volume of 1,361,915 shares, compared to its average volume of 1,292,272. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $28.08 and a 200 day moving average of $26.02. The company has a market cap of $3.30 billion, a P/E ratio of -6.64 and a beta of 0.81. Arcus Biosciences has a 1 year low of $12.89 and a 1 year high of $31.74.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results 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 analysts’ expectations of $21.98 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.Arcus Biosciences’s revenue was down 74.4% on a year-over-year basis. Sell-side analysts expect that Arcus Biosciences will post -3.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Juan C. Jaen sold 48,502 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the transaction, the president directly owned 842,307 shares in the company, valued at approximately $25,311,325.35. This represents a 5.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 71,396 shares of company stock valued at $2,116,613. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently bought and sold shares of RCUS. WINTON GROUP Ltd lifted its stake in Arcus Biosciences by 59.7% during the 2nd quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock worth $1,615,000 after acquiring an additional 19,578 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Arcus Biosciences during the 2nd quarter worth about $30,000. Arizona State Retirement System lifted its stake in Arcus Biosciences by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock worth $746,000 after acquiring an additional 409 shares in the last quarter. Nykredit A S acquired a new position in Arcus Biosciences during the 2nd quarter worth about $134,000. Finally, Allianz Asset Management GmbH acquired a new position in Arcus Biosciences during the 2nd quarter worth about $2,542,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company combines antibody-based therapies, small-molecule drugs and combination treatment strategies designed to influence the immune system and other biological pathways involved in tumor growth.

Its oncology pipeline includes investigational therapies targeting pathways such as TIGIT, PD-1, CD73, adenosine receptors and HIF-2α. Key programs have included domvanalimab, an anti-TIGIT antibody; zimberelimab, an anti-PD-1 antibody; quemliclustat, a CD73 inhibitor; etrumadenant, an adenosine receptor antagonist; and AB521, an HIF-2α inhibitor.