Arcus Biosciences, Inc. (NYSE:RCUS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.67.

A number of equities research analysts have recently issued reports on RCUS shares. Morgan Stanley dropped their price objective on Arcus Biosciences from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research note on Wednesday. The Goldman Sachs Group dropped their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $8.28 on Friday. The firm has a market cap of $876.73 million, a PE ratio of -2.63 and a beta of 0.88. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $18.98. The company’s fifty day simple moving average is $8.40 and its 200-day simple moving average is $12.39. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). The business had revenue of $28.00 million for the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company’s quarterly revenue was down 80.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. Equities research analysts expect that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Yasunori Kaneko acquired 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the purchase, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. The trade was a 238.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Terry J. Rosen bought 19,800 shares of Arcus Biosciences stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the acquisition, the chief executive officer now owns 2,554,160 shares in the company, valued at $26,001,348.80. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arcus Biosciences by 2.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock valued at $506,000 after purchasing an additional 833 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Arcus Biosciences by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after buying an additional 1,117 shares in the last quarter. R Squared Ltd bought a new stake in shares of Arcus Biosciences during the 4th quarter worth $26,000. Teacher Retirement System of Texas boosted its stake in Arcus Biosciences by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after buying an additional 2,410 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Arcus Biosciences by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock worth $369,000 after acquiring an additional 2,500 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

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.