Arcus Biosciences (NYSE:RCUS) Price Target Raised to $45.00

Arcus Biosciences (NYSE:RCUS) had its target price lifted by equities research analysts at HC Wainwright from $32.00 to $45.00 in a research note issued on Monday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 63.88% from the company’s previous close.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday. Truist Financial started coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley raised their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Eight investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.40.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS opened at $27.46 on Monday. Arcus Biosciences has a 1 year low of $8.84 and a 1 year high of $31.74. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -8.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. The company’s 50 day simple moving average is $26.15 and its 200 day simple moving average is $23.65.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share 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 for the quarter, compared to the consensus estimate of $29.48 million. During the same quarter in the previous year, the company earned ($1.14) earnings per share. The firm’s revenue for the quarter was down 39.3% on a year-over-year basis. As a group, research analysts predict that Arcus Biosciences will post -3.66 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,020,002.37. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the business’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 transaction of $1,457,485.10. Following the sale, the president directly owned 842,307 shares in the company, valued at $25,311,325.35. The trade was a 5.44% decrease in their ownership of the stock. 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 110,325 shares of company stock worth $3,174,319 in the last quarter. 9.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its stake in shares of Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after buying an additional 881 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in shares of Arcus Biosciences in the fourth quarter worth approximately $39,000. KBC Group NV bought a new stake in Arcus Biosciences in the first quarter valued at approximately $50,000. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after acquiring an additional 482 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after purchasing an additional 607 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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.