Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $37.80

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.80.

RCUS has been the subject of several analyst reports. Wedbush increased their price objective on Arcus Biosciences from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. HC Wainwright upped their target price on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Lifesci Capital assumed coverage on Arcus Biosciences in a research note on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Finally, Truist Financial assumed coverage on Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 price target for the company.

Arcus Biosciences Trading Down 4.3%

NYSE RCUS opened at $29.27 on Friday. Arcus Biosciences has a 52 week low of $10.40 and a 52 week high of $31.74. The company has a 50 day moving average price of $29.14 and a 200 day moving average price of $25.09. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.73 billion, a PE ratio of -7.51 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company had revenue of $41.00 million during the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences’s revenue for the quarter was down 74.4% on a year-over-year basis. As a group, sell-side analysts forecast that Arcus Biosciences will post -3.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Juan C. Jaen sold 48,502 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total value of $1,457,485.10. Following the sale, the president directly owned 842,307 shares of the company’s stock, valued at $25,311,325.35. This represents a 5.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,389 shares of company stock valued at $3,060,164 in the last 90 days. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently added to or reduced their stakes in RCUS. AQR Capital Management LLC grew its position in Arcus Biosciences by 253.9% during the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after purchasing an additional 65,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arcus Biosciences by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock valued at $297,000 after buying an additional 3,565 shares during the period. Millennium Management LLC boosted its stake in shares of Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after buying an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Arcus Biosciences by 106.2% in the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Arcus Biosciences during the first quarter worth about $67,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.