Arcus Biosciences, Inc. (NYSE:RCUS) Receives $35.10 Consensus PT from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $35.10.

Several equities analysts have recently weighed in on the company. Leerink Partners set a $47.00 price objective on Arcus Biosciences in a research note on Monday, April 20th. Wedbush increased their target price on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 2nd. Truist Financial began coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 price target on the stock. Lifesci Capital assumed coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th.

Arcus Biosciences Stock Up 1.4%

Shares of NYSE RCUS opened at $30.41 on Friday. The stock has a market capitalization of $3.82 billion, a PE ratio of -9.56 and a beta of 0.80. 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 firm has a fifty day moving average of $25.61 and a 200-day moving average of $23.33. Arcus Biosciences has a 52-week low of $8.23 and a 52-week high of $31.74.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. During the same quarter in the previous year, the business posted ($1.14) EPS. Arcus Biosciences’s revenue was down 39.3% compared to the same quarter last year. On average, analysts anticipate that Arcus Biosciences will post -3.66 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of 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 position. The sale was disclosed in a document filed 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, CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.77, for a total value 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 represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 41,756 shares of company stock valued at $1,142,517. Company insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its stake in shares of Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Arcus Biosciences in the 4th quarter worth $39,000. KBC Group NV acquired a new position in Arcus Biosciences in the 1st quarter worth $50,000. Strs Ohio purchased a new stake in shares of Arcus Biosciences during the first quarter worth about $67,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Arcus Biosciences by 184.2% during the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after acquiring an additional 5,476 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.