Arcus Biosciences (NYSE:RCUS) Stock Price Expected to Rise, Bank of America Analyst Says

Arcus Biosciences (NYSE:RCUS) had its price target hoisted by equities researchers at Bank of America from $17.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 0.68% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. HC Wainwright lifted their price target on Arcus Biosciences from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group raised their target price on shares of Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Truist Financial reissued a “buy” rating and issued a $39.00 price target (up previously from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arcus Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $29.44.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS traded up $0.27 during trading on Friday, reaching $25.83. 362,857 shares of the stock traded hands, compared to its average volume of 1,121,739. 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 market capitalization of $2.79 billion, a P/E ratio of -7.50 and a beta of 0.90. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.32. The company has a 50-day moving average of $17.67 and a 200-day moving average of $12.43.

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

Insider Activity

In other news, CFO Robert C. Goeltz II sold 5,000 shares of Arcus Biosciences 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 transaction, the chief financial officer directly owned 92,138 shares in the company, valued at approximately $1,842,760. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $36,803.00. Following the transaction, the chief accounting officer directly owned 27,363 shares of the company’s stock, valued at approximately $355,719. This trade represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 210,875 shares of company stock worth $4,017,263. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Arcus Biosciences by 59.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after purchasing an additional 1,021 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after purchasing an additional 2,845 shares in the last quarter. CWM LLC raised its stake in Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after purchasing an additional 3,810 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Arcus Biosciences by 34.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock worth $57,000 after purchasing an additional 1,796 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Arcus Biosciences by 440.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company’s stock valued at $62,000 after buying an additional 6,191 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.