Analysts Set Arcus Biosciences, Inc. (NYSE:RCUS) PT at $37.80

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.80.

RCUS has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a report on Monday, August 10th. HC Wainwright raised their price target on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. Finally, Truist Financial assumed coverage on shares of Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 price objective on the stock.

Arcus Biosciences Stock Down 0.5%

NYSE RCUS opened at $30.20 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market capitalization of $3.85 billion, a PE ratio of -7.74 and a beta of 0.80. Arcus Biosciences has a 1 year low of $10.07 and a 1 year high of $31.74. The business’s 50-day moving average is $28.62 and its 200 day moving average is $24.84.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The company had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. The business’s quarterly revenue was down 74.4% on a year-over-year basis. Sell-side analysts forecast that Arcus Biosciences will post -3.53 earnings per share for the current year.

Insider Activity

In related news, President Juan C. Jaen sold 20,067 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president owned 822,240 shares in the company, valued at $23,532,508.80. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 105,389 shares of company stock valued at $3,060,164. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

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