Arcus Biosciences, Inc. (NYSE:RCUS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $35.10.

Several equities research analysts recently commented on RCUS shares. The Goldman Sachs Group boosted their target price on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Leerink Partners set a $47.00 target price on Arcus Biosciences in a research note on Monday, April 20th. Lifesci Capital started coverage on Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price on the stock. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $30.03 on Friday. The firm has a 50-day moving average price of $25.83 and a 200 day moving average price of $23.45. The firm has a market capitalization of $3.78 billion, a PE ratio of -9.44 and a beta of 0.80. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences has a 52-week low of $8.84 and a 52-week high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The company had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm’s quarterly revenue was down 39.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.14) EPS. On average, sell-side analysts anticipate that Arcus Biosciences will post -3.66 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the transaction, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at $2,157,046.43. This trade represents a 8.45% 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. Also, President Juan C. Jaen sold 15,764 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $27.73, for a total transaction of $437,135.72. Following the completion of the transaction, the president owned 897,240 shares in the company, valued at approximately $24,880,465.20. This represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,756 shares of company stock worth $1,142,517 in the last quarter. 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 added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Arcus Biosciences by 10.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after buying an additional 359 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Arcus Biosciences by 16.7% during the first quarter. California State Teachers Retirement System now owns 105,776 shares of the company’s stock worth $2,285,000 after buying an additional 15,110 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after buying an additional 607 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Arcus Biosciences by 8.5% in the first quarter. Quantinno Capital Management LP now owns 17,295 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares during the period. Finally, SummitTX Capital L.P. boosted its position in shares of Arcus Biosciences by 17.4% in the first quarter. SummitTX Capital L.P. now owns 34,219 shares of the company’s stock valued at $739,000 after acquiring an additional 5,076 shares during the period. Institutional investors and hedge funds 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.