Arcus Biosciences, Inc. (NYSE:RCUS) Stock Has Average Target Price of $39.64

Key Points

• Analyst sentiment is broadly positive: Sixteen analysts give Arcus Biosciences a “Moderate Buy” consensus, with an average one-year price target of $39.64. Twelve rate the stock a buy, three a hold, and one a sell.
• Latest results were mixed: Arcus reported a quarterly loss of $1.00 per share, worse than the $0.89 loss analysts expected, while revenue of $9 million exceeded estimates. Revenue fell 65.4% year over year.
• The stock opened at $19.32, below its 50- and 200-day moving averages of $24.26 and $24.58, respectively. Institutional investors and hedge funds own 92.89% of shares.

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) have received an average recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $39.64.

RCUS has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, October 24th. TD Cowen began coverage on shares of Arcus Biosciences in a research report on Wednesday, September 16th. They set a "buy" rating on the stock. Wedbush boosted their price objective on shares of Arcus Biosciences from $43.00 to $49.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 21st. William Blair began coverage on shares of Arcus Biosciences in a research note on Friday, October 16th. They set an "outperform" rating for the company. Finally, Truist Financial increased their price objective on shares of Arcus Biosciences from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st.

Insider Buying and Selling at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,827 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company's stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company's stock.

Institutional Trading of Arcus Biosciences

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in Arcus Biosciences by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 22,659 shares of the company's stock valued at $572,000 after acquiring an additional 895 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Arcus Biosciences in the third quarter worth about $45,000. Sterling Capital Management LLC lifted its stake in shares of Arcus Biosciences by 328.4% in the third quarter. Sterling Capital Management LLC now owns 2,716 shares of the company's stock worth $70,000 after acquiring an additional 2,082 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 22.4% in the third quarter. GAMMA Investing LLC now owns 4,855 shares of the company's stock valued at $125,000 after purchasing an additional 889 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in Arcus Biosciences by 59.7% in the second quarter. WINTON GROUP Ltd now owns 52,398 shares of the company's stock valued at $1,615,000 after purchasing an additional 19,578 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $19.32 on Thursday. The stock's 50-day moving average is $24.26 and its 200-day moving average is $24.58. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -4.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. Arcus Biosciences has a 12 month low of $17.43 and a 12 month high of $31.74.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.11). Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The firm had revenue of $9.00 million during the quarter, compared to analyst estimates of $7.58 million. During the same period in the prior year, the firm earned ($1.27) earnings per share. The business's revenue for the quarter was down 65.4% on a year-over-year basis. Equities analysts anticipate that Arcus Biosciences will post -3.55 earnings per share for the current year.

About Arcus Biosciences

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus's oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.

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