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

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $43.00 price target on the stock. Wedbush’s price target points to a potential upside of 66.65% from the stock’s current price.

A number of other brokerages also recently issued reports on RCUS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price objective on shares of Arcus Biosciences in a research report on Friday, August 7th. Morgan Stanley set a $23.00 price objective on shares of Arcus Biosciences in a research note on Monday, August 10th. Wells Fargo & Company lifted their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Finally, Lifesci Capital initiated coverage on Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target for the company. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.30.

Arcus Biosciences Stock Up 0.6%

Shares of RCUS stock traded up $0.15 during trading hours on Wednesday, hitting $25.80. 123,681 shares of the company were exchanged, compared to its average volume of 1,285,182. The business’s 50-day simple moving average is $28.08 and its two-hundred day simple moving average is $26.02. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -6.61 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82. Arcus Biosciences has a one year low of $12.89 and a one year high of $31.74.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. The company’s quarterly revenue was down 74.4% on a year-over-year basis. Sell-side analysts predict that Arcus Biosciences will post -3.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Alexander Azoy sold 2,827 shares of the business’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.05, for a total value of $1,457,485.10. Following the sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. This trade represents a 5.44% 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. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently modified their holdings of RCUS. WINTON GROUP Ltd boosted its position in Arcus Biosciences by 59.7% in the 2nd quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock valued at $1,615,000 after buying an additional 19,578 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Arcus Biosciences during the second quarter valued at $30,000. Arizona State Retirement System lifted its holdings in shares of 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 during the period. Nykredit A S purchased a new position in shares of Arcus Biosciences in the 2nd quarter valued at $134,000. Finally, Allianz Asset Management GmbH acquired a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $2,542,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.