Brokerages Set Arcus Biosciences, Inc. (NYSE:RCUS) Target Price at $27.22

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) have been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.2222.

A number of research analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $39.00 price target (up from $32.00) on shares of Arcus Biosciences in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Citigroup lifted their price target on shares of Arcus Biosciences from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Wells Fargo & Company lifted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Wall Street Zen raised shares of Arcus Biosciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th.

Insider Buying and Selling

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,831 shares of Arcus Biosciences stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $13.00, for a total transaction of $36,803.00. Following the transaction, the chief accounting officer directly owned 27,363 shares of the company’s stock, valued at $355,719. The trade was a 9.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Jarrett sold 37,792 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total transaction of $568,769.60. Following the transaction, the chief operating officer directly owned 214,232 shares in the company, valued at approximately $3,224,191.60. This trade represents a 15.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 54,702 shares of company stock worth $806,081. 9.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of 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 purchasing an additional 6,453 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after purchasing an additional 470,755 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Arcus Biosciences by 14.8% during the first quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock worth $1,436,000 after purchasing an additional 23,645 shares in the last quarter. Woodline Partners LP lifted its position in shares of Arcus Biosciences by 45.5% during the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after purchasing an additional 1,603,367 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Arcus Biosciences by 17.1% during the second quarter. Nordea Investment Management AB now owns 319,899 shares of the company’s stock worth $2,633,000 after purchasing an additional 46,776 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Price Performance

RCUS opened at $19.89 on Friday. The company’s 50 day simple moving average is $13.37 and its 200 day simple moving average is $10.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. Arcus Biosciences has a 1 year low of $6.50 and a 1 year high of $20.53. The stock has a market capitalization of $2.12 billion, a PE ratio of -6.28 and a beta of 0.77.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. During the same period in the previous year, the firm earned ($1.00) EPS. Arcus Biosciences’s quarterly revenue was down 45.8% compared to the same quarter last year. As a group, sell-side analysts expect that Arcus Biosciences will post -3.15 EPS for the current year.

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.