Arcus Biosciences (NYSE:RCUS) Stock Price Expected to Rise, HC Wainwright Analyst Says

Arcus Biosciences (NYSE:RCUS) had its target price increased by equities research analysts at HC Wainwright from $32.00 to $45.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 63.88% from the company’s current price.

Several other equities research analysts have also recently commented on RCUS. Lifesci Capital began coverage on Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price for the company. Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. The Goldman Sachs Group raised their price objective on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.40.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $27.46 on Monday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.45 billion, a P/E ratio of -8.63 and a beta of 0.80. The firm’s fifty day simple moving average is $26.15 and its two-hundred day simple moving average is $23.65. Arcus Biosciences has a 12 month low of $8.84 and a 12 month high of $31.74.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business’s revenue was down 39.3% on a year-over-year basis. During the same period last year, the business posted ($1.14) earnings per share. As a group, analysts predict that Arcus Biosciences will post -3.66 EPS for the current year.

Insider Activity at Arcus Biosciences

In related news, President Juan C. Jaen sold 20,067 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president directly owned 822,240 shares of the company’s stock, valued at approximately $23,532,508.80. This represents a 2.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction that occurred 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 transaction, the chief financial officer owned 84,161 shares in the company, valued at approximately $2,157,046.43. The trade was a 8.45% 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. Insiders sold 110,325 shares of company stock valued at $3,174,319 in the last three months. Corporate insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Arcus Biosciences by 10.0% in the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after acquiring an additional 359 shares during the period. Royal Bank of Canada raised its stake in shares of Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after purchasing an additional 607 shares during the period. Creative Planning raised its stake in shares of Arcus Biosciences by 2.7% during the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after purchasing an additional 771 shares during the period. Hantz Financial Services Inc. lifted its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Arcus Biosciences by 1.1% in the 4th quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after purchasing an additional 1,000 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.