Arcus Biosciences, Inc. (NYSE:RCUS) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Arcus Biosciences has received a consensus rating of "Moderate Buy" from ten brokerage firms, with an average target price of $27.22.
• Insider sales included COO Jennifer Jarrett selling 37,792 shares at an average price of $15.05, reducing her holding by 15%.
• Institutional investors now own 92.89% of Arcus Biosciences stock, with significant increases in holdings by firms like GAMMA Investing and CWM LLC.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.2222.

A number of equities research analysts have recently weighed in on RCUS shares. Wells Fargo & Company boosted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, October 20th. Citigroup boosted their price objective on shares of Arcus Biosciences from $47.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, October 13th. Wall Street Zen upgraded shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Truist Financial reiterated a "buy" rating and set a $39.00 price target (up from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcus Biosciences in a report on Friday.

Insider Buying and Selling at Arcus Biosciences

In other news, COO Jennifer Jarrett sold 37,792 shares of the company's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total value of $568,769.60. Following the sale, the chief operating officer directly owned 214,232 shares of the company's stock, valued at $3,224,191.60. This represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alexander Azoy sold 2,831 shares of the company's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $13.00, for a total transaction of $36,803.00. Following the completion of the sale, the chief accounting officer directly owned 27,363 shares in the company, valued at $355,719. This represents a 9.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,702 shares of company stock valued at $806,081 over the last 90 days. Company insiders own 9.60% of the company's stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Arcus Biosciences by 59.1% in the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company's stock worth $37,000 after buying an additional 1,021 shares during the last quarter. CWM LLC boosted its holdings in shares of Arcus Biosciences by 233.6% in the second quarter. CWM LLC now owns 5,441 shares of the company's stock worth $44,000 after buying an additional 3,810 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company's stock worth $57,000 after buying an additional 1,796 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Arcus Biosciences by 440.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock worth $62,000 after buying an additional 6,191 shares during the last quarter. Finally, Strs Ohio bought a new stake in Arcus Biosciences during the 1st quarter worth approximately $67,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $17.32 on Friday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.46 and a beta of 0.77. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. Arcus Biosciences has a 1 year low of $6.50 and a 1 year high of $18.98. The firm's 50 day simple moving average is $13.01 and its 200 day simple moving average is $10.32.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.03. The company had revenue of $160.00 million for the quarter, compared to analyst estimates of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The company's quarterly revenue was up 310.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.02) earnings per share. As a group, research analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Arcus Biosciences Company Profile

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.

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