Arcus Biosciences (NYSE:RCUS) Shares Up 6.6% Following Analyst Upgrade

Arcus Biosciences, Inc. (NYSE:RCUS) shares traded up 6.6% during trading on Monday after HC Wainwright raised their price target on the stock from $32.00 to $45.00. HC Wainwright currently has a buy rating on the stock. Arcus Biosciences traded as high as $29.54 and last traded at $29.1640. 120,406 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,244,699 shares. The stock had previously closed at $27.37.

A number of other research firms have also recently weighed in on RCUS. Leerink Partners set a $47.00 price objective on Arcus Biosciences in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday. Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley raised their price target on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Wedbush boosted their price target on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. Eight research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the transaction, the chief financial officer owned 84,161 shares in the company, valued at $2,157,046.43. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. This represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 110,325 shares of company stock valued at $3,174,319 in the last ninety days. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after acquiring an additional 3,918,220 shares during the last quarter. Marshall Wace LLP acquired a new position in Arcus Biosciences during the fourth quarter valued at $80,731,000. Suvretta Capital Management LLC lifted its position in Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after purchasing an additional 1,500,000 shares during the period. Toronto Dominion Bank purchased a new stake in Arcus Biosciences in the fourth quarter valued at $35,380,000. Finally, Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after purchasing an additional 1,333,421 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Price Performance

The firm has a 50-day simple moving average of $26.21 and a two-hundred day simple moving average of $23.69. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -8.88 and a beta of 0.80. 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 (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The company had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.14) EPS. As a group, analysts predict that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

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.