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

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.74 and last traded at $31.3960, with a volume of 67431 shares changing hands. The stock had previously closed at $31.08.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RCUS. Wedbush boosted their target price on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Citigroup lifted their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a report on Monday, April 20th. Finally, Lifesci Capital assumed coverage on shares of Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.10.

Arcus Biosciences Price Performance

The company has a 50-day moving average of $25.22 and a 200-day moving average of $23.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -9.12 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.48 million. During the same quarter last year, the business posted ($1.14) earnings per share. The business’s quarterly revenue was down 39.3% on a year-over-year basis. As a group, research analysts anticipate that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares in the company, valued at $2,157,046.43. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,020,002.37. This represents a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,756 shares of company stock valued at $1,142,517 over the last quarter. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of Arcus Biosciences by 16.7% during the first quarter. California State Teachers Retirement System now owns 105,776 shares of the company’s stock worth $2,285,000 after buying an additional 15,110 shares during the period. Royal Bank of Canada grew its holdings in shares of Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after buying an additional 607 shares in the last quarter. Quantinno Capital Management LP raised its position in Arcus Biosciences by 8.5% in the 1st quarter. Quantinno Capital Management LP now owns 17,295 shares of the company’s stock valued at $374,000 after buying an additional 1,349 shares during the last quarter. SummitTX Capital L.P. raised its position in Arcus Biosciences by 17.4% in the 1st quarter. SummitTX Capital L.P. now owns 34,219 shares of the company’s stock valued at $739,000 after buying an additional 5,076 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Arcus Biosciences in the 1st quarter valued at approximately $294,000. 92.89% of the stock is currently owned by institutional investors.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.