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

Arcus Biosciences, Inc. (NYSE:RCUS) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.25.

Several research firms recently commented on RCUS. Mizuho reduced their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Wedbush restated an “outperform” rating and set a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, February 22nd. Finally, Truist Financial restated a “buy” rating and set a $50.00 price target on shares of Arcus Biosciences in a research note on Monday, March 25th.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, major shareholder Gilead Sciences, Inc. acquired 15,238,095 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $21.00 per share, with a total value of $319,999,995.00. Following the acquisition, the insider now directly owns 30,061,124 shares of the company’s stock, valued at $631,283,604. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Jennifer Jarrett sold 11,551 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total value of $202,720.05. Following the sale, the chief operating officer now directly owns 215,253 shares of the company’s stock, valued at approximately $3,777,690.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gilead Sciences, Inc. acquired 15,238,095 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $21.00 per share, for a total transaction of $319,999,995.00. Following the completion of the acquisition, the insider now directly owns 30,061,124 shares in the company, valued at $631,283,604. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 53,455 shares of company stock worth $1,014,779. 13.80% of the stock is owned by corporate insiders.

Institutional Trading of Arcus Biosciences

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in Arcus Biosciences by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after buying an additional 1,090 shares in the last quarter. Diversified Trust Co purchased a new stake in Arcus Biosciences during the first quarter worth $228,000. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 51.6% during the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after buying an additional 826 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company’s stock worth $89,402,000 after buying an additional 186,898 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Arcus Biosciences by 0.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 592,291 shares of the company’s stock worth $11,313,000 after buying an additional 4,083 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Down 1.7 %

NYSE RCUS opened at $14.59 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of -3.52 and a beta of 0.81. The company has a 50 day moving average price of $17.58 and a 200 day moving average price of $16.66. Arcus Biosciences has a 52 week low of $12.95 and a 52 week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.01. The firm had revenue of $31.00 million during the quarter, compared to analyst estimates of $28.30 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. Arcus Biosciences’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.93) EPS. On average, equities research analysts anticipate that Arcus Biosciences will post -3.59 earnings per share for the current fiscal year.

About Arcus Biosciences

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.