HC Wainwright Cuts Earnings Estimates for Arcus Biosciences

Arcus Biosciences, Inc. (NYSE:RCUS) – Equities research analysts at HC Wainwright dropped their FY2029 earnings per share estimates for shares of Arcus Biosciences in a research report issued on Monday, July 20th. HC Wainwright analyst E. Bodnar now anticipates that the company will post earnings per share of ($1.04) for the year, down from their prior forecast of ($0.81). HC Wainwright has a “Buy” rating and a $45.00 price objective on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Arcus Biosciences’ FY2030 earnings at ($0.25) EPS.

Other equities analysts have also issued research reports about the stock. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research report on Monday, April 20th. Truist Financial initiated coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday. Morgan Stanley raised their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Arcus Biosciences Stock Up 4.6%

RCUS opened at $29.46 on Wednesday. Arcus Biosciences has a 1-year low of $8.84 and a 1-year high of $31.74. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -9.26 and a beta of 0.80. The business has a 50 day moving average of $26.30 and a 200-day moving average of $23.73.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly 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 business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. During the same period in the prior year, the firm earned ($1.14) earnings per share. The business’s quarterly revenue was down 39.3% on a year-over-year basis.

Insider Activity

In related news, President Juan C. Jaen sold 20,067 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the transaction, the president directly owned 822,240 shares of the company’s stock, valued at $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.77, for a total transaction of $66,022.74. Following the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,020,002.37. This represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 110,325 shares of company stock worth $3,174,319. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Arcus Biosciences by 20.1% during the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after acquiring an additional 1,333,421 shares during the period. Suvretta Capital Management LLC boosted its position in shares of Arcus Biosciences by 40.7% during the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after acquiring an additional 1,500,000 shares in the last quarter. Wellington Management Group LLP increased its stake in Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after acquiring an additional 3,918,220 shares during the period. State Street Corp increased its stake in Arcus Biosciences by 34.8% in the fourth quarter. State Street Corp now owns 4,576,969 shares of the company’s stock valued at $109,069,000 after acquiring an additional 1,182,115 shares during the period. Finally, Marshall Wace LLP bought a new stake in Arcus Biosciences in the fourth quarter valued at about $80,731,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.