Arcus Biosciences (NYSE:RCUS) Hits New 12-Month High - Here's Why

Key Points

• Arcus Biosciences (NYSE:RCUS) hit a new 52-week high, trading as high as $29.04 during Wednesday’s session as investor interest lifted the stock.
• Wall Street sentiment remains mostly constructive, with eight Buy ratings and a consensus Moderate Buy rating; the average analyst price target is $35.10.
• The company recently posted a weaker-than-expected quarterly loss and revenue miss, and insiders have also been selling shares, though institutional ownership remains high at 92.89%.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.04 and last traded at $28.3940, with a volume of 71703 shares changing hands. The stock had previously closed at $28.18.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of research reports. Citigroup raised their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Morgan Stanley boosted their price objective on Arcus Biosciences from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. HC Wainwright restated a "buy" rating and issued a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Lifesci Capital began coverage on Arcus Biosciences in a research report on Thursday, June 4th. They issued an "outperform" rating and a $46.00 target price for the company. Finally, Wall Street Zen downgraded shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Eight investment 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.10.

Arcus Biosciences Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a 50 day moving average price of $24.40 and a two-hundred day moving average price of $22.90. The company has a market capitalization of $3.64 billion, a P/E ratio of -9.11 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its 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). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.48 million. During the same quarter last year, the business earned ($1.14) EPS. Arcus Biosciences's quarterly revenue was down 39.3% compared to the same quarter last year. On average, research analysts expect that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at $1,020,002.37. This represents 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. 9.60% of the stock is currently owned by insiders.

Institutional Trading of Arcus Biosciences

Several large investors have recently added to or reduced their stakes in the company. Decheng Capital LLC raised its stake in shares of Arcus Biosciences by 242.3% in the third quarter. Decheng Capital LLC now owns 547,609 shares of the company's stock valued at $7,447,000 after acquiring an additional 387,609 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Arcus Biosciences during the 3rd quarter valued at $1,254,000. Vanguard Group Inc. raised its position in Arcus Biosciences by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company's stock valued at $90,161,000 after purchasing an additional 73,210 shares during the last quarter. Fisher Asset Management LLC raised its position in Arcus Biosciences by 727.1% in the 3rd quarter. Fisher Asset Management LLC now owns 729,153 shares of the company's stock valued at $9,916,000 after purchasing an additional 640,990 shares during the last quarter. Finally, Aberdeen Group plc boosted its stake in Arcus Biosciences by 16.0% in the fourth quarter. Aberdeen Group plc now owns 384,601 shares of the company's stock worth $9,165,000 after purchasing an additional 52,930 shares in the last quarter. 92.89% of the stock is owned by 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.

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