Arcus Biosciences (NYSE:RCUS) Sets New 12-Month High – Should You Buy?

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.04 and last traded at $25.5690, with a volume of 1975535 shares trading hands. The stock had previously closed at $24.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RCUS shares. Wells Fargo & Company boosted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Citigroup lifted their price target on shares of Arcus Biosciences from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. The Goldman Sachs Group upped their price objective on shares of Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $39.00 price target (up from $32.00) on shares of Arcus Biosciences in a research report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.44.

Arcus Biosciences Stock Up 5.3%

The firm has a market cap of $2.76 billion, a PE ratio of -7.43 and a beta of 0.90. The stock has a 50-day simple moving average of $17.41 and a two-hundred day simple moving average of $12.33. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $19.89 million. During the same period last year, the business earned ($1.00) earnings per share. The business’s quarterly revenue was down 45.8% on a year-over-year basis. Analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Alexander Azoy sold 2,831 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $13.00, for a total value of $36,803.00. Following the completion of the sale, the chief accounting officer owned 27,363 shares of the company’s stock, valued at approximately $355,719. The trade was a 9.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert C. Goeltz II sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the chief financial officer owned 92,138 shares in the company, valued at approximately $1,842,760. The trade was a 5.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 210,875 shares of company stock valued at $4,017,263 over the last three months. 9.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP increased its position in shares of Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after acquiring an additional 1,603,367 shares during the period. Gilead Sciences Inc. increased its holdings in Arcus Biosciences by 4.5% during the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock valued at $246,684,000 after purchasing an additional 1,363,636 shares during the period. Vanguard Group Inc. raised its position in Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock valued at $52,499,000 after purchasing an additional 1,298,584 shares during the last quarter. RA Capital Management L.P. purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $8,920,000. Finally, Wellington Management Group LLP purchased a new stake in Arcus Biosciences in the 1st quarter worth approximately $8,500,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.