Arcus Biosciences (NYSE:RCUS) Trading Up 5.1% – What’s Next?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) shot up 5.1% during mid-day trading on Thursday . The company traded as high as $21.55 and last traded at $21.2460. 1,582,009 shares were traded during trading, an increase of 44% from the average session volume of 1,099,105 shares. The stock had previously closed at $20.22.

Analyst Ratings Changes

A number of brokerages recently weighed in on RCUS. Truist Financial reaffirmed a “buy” rating and set a $39.00 price objective (up previously from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Citigroup boosted their price objective on shares of Arcus Biosciences from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Wedbush set a $35.00 price target on Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.44.

Arcus Biosciences Stock Performance

The firm has a market cap of $2.29 billion, a PE ratio of -6.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The stock has a 50-day moving average price of $16.25 and a 200 day moving average price of $11.81.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm had revenue of $26.00 million during the quarter, compared to the consensus estimate of $19.89 million. During the same period in the previous year, the firm earned ($1.00) earnings per share. Arcus Biosciences’s revenue was down 45.8% compared to the same quarter last year. Research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the sale, the chief financial officer owned 92,138 shares of the company’s stock, valued at approximately $1,842,760. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alexander Azoy sold 2,831 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $13.00, for a total transaction of $36,803.00. Following the completion of the transaction, the chief accounting officer owned 27,363 shares in the company, valued at $355,719. The trade was a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 210,875 shares of company stock valued at $4,017,263. 9.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Woodline Partners LP lifted its stake in shares of Arcus Biosciences by 45.5% during the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after purchasing an additional 1,603,367 shares in the last quarter. Gilead Sciences Inc. raised its holdings in shares of Arcus Biosciences by 4.5% during the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock valued at $246,684,000 after buying an additional 1,363,636 shares during the period. Vanguard Group Inc. lifted its position in Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after acquiring an additional 1,298,584 shares in the last quarter. RA Capital Management L.P. purchased a new position in Arcus Biosciences in the 1st quarter worth approximately $8,920,000. Finally, Wellington Management Group LLP acquired a new stake in Arcus Biosciences in the first quarter valued at approximately $8,500,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.