Arcus Biosciences (NYSE:RCUS) Stock Price Up 6.6% on Analyst Upgrade

Key Points

• Arcus Biosciences shares rose 6.6% after HC Wainwright lifted its price target from $32 to $45 and reiterated a buy rating. The stock traded as high as $29.54 during the session.
• Analyst sentiment is generally positive, with several firms recently raising targets on RCUS and the current consensus standing at a Moderate Buy with a $36.40 average price target. Eight analysts rate it Buy, while three Hold and one Sell.
• Despite the rally, Arcus recently reported a weaker-than-expected quarterly loss of $1.02 per share on revenue of $17 million, missing estimates. The company also saw insider selling, including a July 10 sale by President Juan C. Jaen under a pre-arranged trading plan.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares traded up 6.6% during mid-day 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 traded hands during 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 analysts have also recently commented on the stock. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research note on Monday, April 20th. The Goldman Sachs Group upped their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcus Biosciences in a report on Friday. Wall Street Zen downgraded Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Wedbush lifted their price target on Arcus Biosciences from $37.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.40.

Insider Transactions at Arcus Biosciences

In related news, President Juan C. Jaen sold 20,067 shares of the firm's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the completion of the transaction, the president owned 822,240 shares of the company's stock, valued at $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the transaction, the chief financial officer owned 84,161 shares of the company's stock, valued at $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 110,325 shares of company stock worth $3,174,319 over the last 90 days. 9.60% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of hedge funds have recently modified their holdings of RCUS. Hantz Financial Services Inc. grew its stake in shares of Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company's stock worth $38,000 after purchasing an additional 881 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth about $39,000. KBC Group NV purchased a new stake in shares of Arcus Biosciences during the 1st quarter worth about $50,000. GAMMA Investing LLC grew its position in shares of Arcus Biosciences by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company's stock valued at $77,000 after acquiring an additional 482 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company's stock valued at $102,000 after acquiring an additional 607 shares during the period. Hedge funds and other institutional investors own 92.89% of the company's stock.

Arcus Biosciences Trading Up 5.9%

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 company has a 50 day moving average of $26.15 and a two-hundred day moving average of $23.65. The stock has a market cap of $3.64 billion, a PE ratio of -9.11 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. During the same period in the previous year, the company posted ($1.14) EPS. The business's revenue for the quarter was down 39.3% compared to the same quarter last year. Sell-side analysts anticipate 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.

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