Arcus Biosciences (NYSE:RCUS) Earns Outperform Rating from Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They currently have a $43.00 target price on the stock. Wedbush’s price target indicates a potential upside of 67.49% from the company’s current price.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Friday, September 11th. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a report on Monday, August 10th. Truist Financial reissued a “buy” rating and set a $40.00 price target (up from $35.00) on shares of Arcus Biosciences in a research report on Tuesday, September 8th. TD Cowen began coverage on shares of Arcus Biosciences in a report on Wednesday, September 16th. They issued a “buy” rating for the company. Finally, Lifesci Capital began coverage on shares of Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.30.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $25.67 on Wednesday. The company’s fifty day moving average price is $28.08 and its two-hundred day moving average price is $26.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $3.27 billion, a P/E ratio of -6.58 and a beta of 0.81. Arcus Biosciences has a 12 month low of $12.89 and a 12 month high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%.The business had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $21.98 million. The business’s revenue for the quarter was down 74.4% on a year-over-year basis. On average, research analysts anticipate that Arcus Biosciences will post -3.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Juan Jaen sold 48,502 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total value of $1,457,485.10. Following the sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. This trade represents a 5.44% decrease in their position. The transaction was disclosed in a legal filing 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 2,827 shares of Arcus Biosciences stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,396 shares of company stock valued at $2,116,613 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd increased its stake in shares of Arcus Biosciences by 59.7% during the second quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock valued at $1,615,000 after acquiring an additional 19,578 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Arcus Biosciences in the 2nd quarter valued at about $30,000. Arizona State Retirement System grew its stake in shares of Arcus Biosciences by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock worth $746,000 after purchasing an additional 409 shares during the last quarter. Nykredit A S bought a new stake in shares of Arcus Biosciences in the 2nd quarter worth approximately $134,000. Finally, Allianz Asset Management GmbH acquired a new stake in Arcus Biosciences during the second quarter valued at approximately $2,542,000. 92.89% of the stock is owned by institutional investors and hedge funds.

About Arcus Biosciences

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer and other serious diseases. The company combines antibody-based therapies, small-molecule drugs and combination treatment strategies designed to influence the immune system and other biological pathways involved in tumor growth.

Its oncology pipeline includes investigational therapies targeting pathways such as TIGIT, PD-1, CD73, adenosine receptors and HIF-2α. Key programs have included domvanalimab, an anti-TIGIT antibody; zimberelimab, an anti-PD-1 antibody; quemliclustat, a CD73 inhibitor; etrumadenant, an adenosine receptor antagonist; and AB521, an HIF-2α inhibitor.