Arcus Biosciences (NYSE:RCUS) Stock Rating Upgraded by Truist Financial

Arcus Biosciences (NYSE:RCUS) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $28.00 in a research note on Monday, January 12th. Wall Street Zen upgraded Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. Wells Fargo & Company set a $23.00 target price on Arcus Biosciences and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Arcus Biosciences Trading Down 1.1%

Shares of NYSE:RCUS opened at $21.22 on Wednesday. The company has a 50 day moving average of $21.44 and a 200-day moving average of $20.00. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.66 billion, a P/E ratio of -6.43 and a beta of 0.85. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The business had revenue of $33.00 million for the quarter, compared to analyst estimates of $24.94 million. During the same quarter last year, the business earned ($1.03) earnings per share. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, analysts anticipate that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, President Juan C. Jaen sold 31,823 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.41, for a total transaction of $681,330.43. Following the sale, the president owned 922,240 shares in the company, valued at approximately $19,745,158.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert C. Goeltz II sold 6,552 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total transaction of $153,185.76. Following the sale, the chief financial officer directly owned 67,924 shares of the company’s stock, valued at $1,588,063.12. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in shares of Arcus Biosciences by 217.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,224 shares of the company’s stock valued at $291,000 after acquiring an additional 8,368 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Arcus Biosciences during the 4th quarter worth approximately $39,000. Invesco Ltd. raised its stake in Arcus Biosciences by 41.7% during the 4th quarter. Invesco Ltd. now owns 414,365 shares of the company’s stock valued at $9,874,000 after purchasing an additional 121,961 shares during the period. State of Tennessee Department of Treasury raised its stake in Arcus Biosciences by 34.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 34,855 shares of the company’s stock valued at $831,000 after purchasing an additional 8,886 shares during the period. Finally, VestGen Advisors LLC purchased a new stake in shares of Arcus Biosciences in the fourth quarter valued at $647,000. Institutional investors and hedge funds 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.