Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Price Target at $28.89

Arcus Biosciences, Inc. (NYSE:RCUS) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $28.8889.

A number of equities analysts have recently issued reports on RCUS shares. Wedbush set a $35.00 price target on shares of Arcus Biosciences and gave the company an “outperform” rating in a report on Wednesday, October 29th. Citigroup reaffirmed a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. HC Wainwright lifted their price target on shares of Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group upped their price target on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Truist Financial set a $30.00 price objective on Arcus Biosciences in a research note on Friday, December 12th.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $21.99 on Monday. The stock’s 50 day moving average price is $21.10 and its 200 day moving average price is $14.19. Arcus Biosciences has a 1-year low of $6.50 and a 1-year high of $26.40. The company has a market cap of $2.37 billion, a PE ratio of -6.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65.

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

Insider Activity

In related news, CEO Terry J. Rosen sold 28,947 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $633,360.36. Following the sale, the chief executive officer directly owned 2,220,553 shares of the company’s stock, valued at approximately $48,585,699.64. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Juan C. Jaen sold 82,997 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.71, for a total transaction of $2,050,855.87. Following the transaction, the president owned 954,063 shares of the company’s stock, valued at $23,574,896.73. This trade represents a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 436,808 shares of company stock worth $9,239,008 over the last 90 days. 9.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcus Biosciences

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Arcus Biosciences by 59.1% during 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 last quarter. SBI Securities Co. Ltd. increased its position in 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 buying an additional 2,845 shares in the last quarter. CWM LLC increased its position in Arcus Biosciences by 233.6% during the second quarter. CWM LLC now owns 5,441 shares of the company’s stock worth $44,000 after buying an additional 3,810 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock worth $57,000 after acquiring an additional 1,796 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Arcus Biosciences by 440.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company’s stock valued at $62,000 after acquiring an additional 6,191 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.