Arcus Biosciences (NYSE:RCUS) Given Outperform Rating at Wedbush

Arcus Biosciences (NYSE:RCUS)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $43.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 73.32% from the company’s previous close.

Several other analysts also recently commented on RCUS. Lifesci Capital started coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. TD Cowen assumed coverage on Arcus Biosciences in a report on Wednesday, September 16th. They issued a “buy” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Friday, September 11th. Finally, HC Wainwright upped their target price on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.30.

Arcus Biosciences Stock Up 1.5%

Shares of NYSE RCUS traded up $0.37 during mid-day trading on Wednesday, reaching $24.81. 566,599 shares of the company’s stock traded hands, compared to its average volume of 1,287,407. Arcus Biosciences has a 1-year low of $13.61 and a 1-year high of $31.74. 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 business has a 50-day simple moving average of $27.83 and a 200 day simple moving average of $26.08. The stock has a market cap of $3.16 billion, a P/E ratio of -6.37 and a beta of 0.94.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $41.00 million for the quarter, compared to analyst estimates of $21.98 million. The business’s quarterly revenue was down 74.4% compared to the same quarter last year. On average, analysts expect that Arcus Biosciences will post -3.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Juan Jaen sold 20,067 shares of Arcus Biosciences stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total value of $574,317.54. Following the sale, the president owned 822,240 shares of the company’s stock, valued at approximately $23,532,508.80. The trade was a 2.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 dated Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This trade represents a 6.67% 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. Insiders sold a total of 71,396 shares of company stock worth $2,116,613 in the last ninety days. 7.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently added to or reduced their stakes in RCUS. Integrated Wealth Concepts LLC bought a new position in Arcus Biosciences in the 2nd quarter worth approximately $30,000. Hantz Financial Services Inc. boosted its holdings in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares during the period. KBC Group NV bought a new position in Arcus Biosciences in the 1st quarter worth approximately $50,000. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 10.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after buying an additional 359 shares during the period. Finally, Nykredit A S bought a new position in Arcus Biosciences in the 2nd quarter worth approximately $134,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.

Arcus’ oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.