Arcus Biosciences (NYSE:RCUS) Reaches New 1-Year High – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.04 and last traded at $28.3940, with a volume of 71703 shares changing hands. The stock had previously closed at $28.18.

Analysts Set New Price Targets

RCUS has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Truist Financial began coverage on Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Eight investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Arcus Biosciences Stock Up 4.9%

The business has a 50 day moving average of $24.67 and a 200-day moving average of $22.95. The stock has a market cap of $3.80 billion, a PE ratio of -9.50 and a beta of 0.85. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The firm had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.14) EPS. Equities research analysts predict that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Insider Activity

In related news, CAO Alexander Azoy sold 2,562 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.77, for a total value of $66,022.74. Following the completion of the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,020,002.37. This represents a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 15,764 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $27.73, for a total transaction of $437,135.72. Following the transaction, the president directly owned 897,240 shares in the company, valued at $24,880,465.20. The trade was a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,756 shares of company stock valued at $1,142,517 in the last ninety days. 9.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the company. Decheng Capital LLC lifted its stake in shares of Arcus Biosciences by 242.3% during the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $7,447,000 after purchasing an additional 387,609 shares during the period. WINTON GROUP Ltd purchased a new position in Arcus Biosciences during the third quarter worth about $1,254,000. Vanguard Group Inc. boosted its stake in Arcus Biosciences by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock worth $90,161,000 after buying an additional 73,210 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Arcus Biosciences by 727.1% in the 3rd quarter. Fisher Asset Management LLC now owns 729,153 shares of the company’s stock valued at $9,916,000 after buying an additional 640,990 shares during the period. Finally, Aberdeen Group plc lifted its holdings in shares of Arcus Biosciences by 16.0% during the 4th quarter. Aberdeen Group plc now owns 384,601 shares of the company’s stock worth $9,165,000 after acquiring an additional 52,930 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.