Arcus Biosciences (NYSE:RCUS) Earns Outperform Rating from Wedbush

Arcus Biosciences (NYSE:RCUS - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $30.00 price target on the stock. Wedbush's price target points to a potential upside of 85.76% from the company's current price.

A number of other research analysts have also recently weighed in on RCUS. Mizuho dropped their price target on Arcus Biosciences from $51.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 30th. Truist Financial reissued a "buy" rating and issued a $50.00 price target on shares of Arcus Biosciences in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Arcus Biosciences Stock Up 5.8 %

Shares of NYSE RCUS traded up $0.89 during mid-day trading on Thursday, hitting $16.15. 967,201 shares of the company were exchanged, compared to its average volume of 773,900. The stock has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $16.58. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $25.47. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -3.89 and a beta of 0.91.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.92. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The company had revenue of $145.00 million during the quarter, compared to analysts' expectations of $28.77 million. During the same quarter last year, the business earned ($1.09) EPS. The business's revenue was up 480.0% on a year-over-year basis. Analysts anticipate that Arcus Biosciences will post -3.59 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jennifer Jarrett sold 11,551 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total transaction of $202,720.05. Following the sale, the chief operating officer now owns 215,253 shares in the company, valued at $3,777,690.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Jennifer Jarrett sold 11,551 shares of Arcus Biosciences stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total value of $202,720.05. Following the completion of the sale, the chief operating officer now owns 215,253 shares in the company, valued at $3,777,690.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Juan C. Jaen sold 3,900 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.06, for a total transaction of $78,234.00. Following the transaction, the president now directly owns 1,211,365 shares in the company, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,455 shares of company stock valued at $1,014,779. Company insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Arcus Biosciences by 20.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,732 shares of the company's stock worth $246,000 after purchasing an additional 2,289 shares during the period. Strs Ohio acquired a new position in Arcus Biosciences in the third quarter valued at approximately $43,000. Panagora Asset Management Inc. grew its holdings in shares of Arcus Biosciences by 2.2% during the third quarter. Panagora Asset Management Inc. now owns 99,299 shares of the company's stock valued at $1,782,000 after purchasing an additional 2,107 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Arcus Biosciences by 13.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,496 shares of the company's stock worth $242,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Arcus Biosciences by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 329,442 shares of the company's stock valued at $5,913,000 after purchasing an additional 1,312 shares during the period. 92.89% of the stock is currently owned by institutional investors.

About Arcus Biosciences

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.