Arcus Biosciences (NYSE:RCUS) Now Covered by JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. started coverage on shares of Arcus Biosciences (NYSE:RCUS) in a research note issued on Wednesday, Benzinga reports. The firm set an “overweight” rating and a $41.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 81.87% from the stock’s previous close.

RCUS has been the subject of a number of other reports. TD Cowen started coverage on shares of Arcus Biosciences in a report on Wednesday, September 16th. They set a “buy” rating for the company. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Wedbush restated an “outperform” rating and set a $43.00 price target on shares of Arcus Biosciences in a report on Wednesday, September 30th. Truist Financial restated a “buy” rating and set a $40.00 price target (up from $35.00) on shares of Arcus Biosciences in a report on Tuesday, September 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Arcus Biosciences in a research report on Friday, August 7th. Eleven 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.55.

Arcus Biosciences Trading Down 7.4%

Shares of RCUS opened at $22.54 on Wednesday. The stock has a market capitalization of $2.87 billion, a P/E ratio of -5.78 and a beta of 0.94. Arcus Biosciences has a twelve month low of $15.38 and a twelve month high of $31.74. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $27.31 and a two-hundred day simple moving average of $26.20.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data 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 net margin of 393.16% and a negative return on equity of 89.54%. The firm had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $21.98 million. The company’s revenue was down 74.4% compared to the same quarter last year. On average, research analysts anticipate that Arcus Biosciences will post -3.53 EPS for the current year.

Insider Buying and Selling

In related news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RCUS. BlackRock Inc. purchased a new stake in shares of Arcus Biosciences in the 2nd quarter worth about $506,113,000. Parkman Healthcare Partners LLC bought a new stake in shares of Arcus Biosciences during the 2nd quarter valued at about $28,341,000. Bank of America Corp DE purchased a new position in shares of Arcus Biosciences during the second quarter valued at about $25,759,000. Bank of New York Mellon Corp purchased a new position in shares of Arcus Biosciences during the second quarter valued at about $16,741,000. Finally, PDT Partners LLC purchased a new position in shares of Arcus Biosciences during the second quarter valued at about $9,976,000. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.

Arcus’ oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.