Arcus Biosciences (NYSE:RCUS) Given New $45.00 Price Target at HC Wainwright

Arcus Biosciences (NYSE:RCUS) had its price objective increased by HC Wainwright from $32.00 to $45.00 in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on RCUS. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research report on Monday, April 20th. Morgan Stanley raised their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Wedbush lifted their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. The Goldman Sachs Group increased their target price on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Truist Financial started coverage on Arcus Biosciences in a research report on Monday, May 18th. They issued a “buy” rating and a $35.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Arcus Biosciences Trading Up 3.1%

Shares of NYSE:RCUS opened at $28.22 on Monday. The business’s 50 day moving average price is $26.21 and its 200-day moving average price is $23.69. Arcus Biosciences has a 1 year low of $8.84 and a 1 year high of $31.74. The firm 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 debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) 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 analysts’ expectations of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.Arcus Biosciences’s revenue was down 39.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.14) EPS. On average, equities research analysts forecast that Arcus Biosciences will post -3.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the transaction, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a 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 the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.77, for a total transaction of $66,022.74. Following the transaction, the chief accounting officer owned 39,581 shares in the company, valued at $1,020,002.37. The trade was a 6.08% decrease in their ownership of the stock. 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 110,325 shares of company stock worth $3,174,319 over the last three months. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

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

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.