Arcus Biosciences (NYSE:RCUS) Price Target Raised to $29.00

Arcus Biosciences (NYSE:RCUS) had its price objective hoisted by Wells Fargo & Company from $25.00 to $29.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

RCUS has been the subject of a number of other reports. Wall Street Zen raised Arcus Biosciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial reissued a “buy” rating and set a $39.00 price objective (up from $32.00) on shares of Arcus Biosciences in a research report on Tuesday, October 7th. Citigroup raised their price objective on Arcus Biosciences from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.22.

Arcus Biosciences Stock Down 7.5%

Shares of NYSE:RCUS opened at $16.70 on Monday. The business has a 50-day moving average price of $12.73 and a 200 day moving average price of $10.16. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.27 and a beta of 0.77. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $18.98.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.03. The firm had revenue of $160.00 million during the quarter, compared to the consensus estimate of $32.86 million. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.The company’s quarterly revenue was up 310.3% on a year-over-year basis. During the same period last year, the company earned ($1.02) EPS. Sell-side analysts expect that Arcus Biosciences will post -3.15 EPS for the current year.

Insider Buying and Selling

In other news, COO Jennifer Jarrett sold 37,792 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $15.05, for a total value of $568,769.60. Following the transaction, the chief operating officer owned 214,232 shares of the company’s stock, valued at approximately $3,224,191.60. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alexander Azoy sold 2,831 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $13.00, for a total value of $36,803.00. Following the completion of the transaction, the chief accounting officer directly owned 27,363 shares in the company, valued at approximately $355,719. The trade was a 9.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,702 shares of company stock valued at $806,081. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC boosted its position in Arcus Biosciences by 40.5% during the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company’s stock worth $109,000 after purchasing an additional 4,013 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Arcus Biosciences by 21.9% during the first quarter. State of Alaska Department of Revenue now owns 37,288 shares of the company’s stock worth $292,000 after buying an additional 6,688 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Arcus Biosciences by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company’s stock worth $144,000 after buying an additional 6,453 shares during the period. Amalgamated Bank increased its stake in Arcus Biosciences by 18.4% during the first quarter. Amalgamated Bank now owns 18,797 shares of the company’s stock worth $148,000 after acquiring an additional 2,922 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Arcus Biosciences by 21.9% during the first quarter. Teacher Retirement System of Texas now owns 18,227 shares of the company’s stock worth $143,000 after acquiring an additional 3,275 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.