Arcus Biosciences (NYSE:RCUS) Trading Up 2.8% – Should You Buy?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price was up 2.8% during mid-day trading on Wednesday . The company traded as high as $24.00 and last traded at $23.8890. Approximately 138,968 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,206,120 shares. The stock had previously closed at $23.23.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Truist Financial set a $30.00 target price on Arcus Biosciences in a report on Friday, December 12th. HC Wainwright raised their target price on Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Finally, Wedbush set a $35.00 price objective on shares of Arcus Biosciences and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $28.89.

Arcus Biosciences Price Performance

The company’s 50-day moving average is $21.99 and its 200-day moving average is $14.86. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -6.92 and a beta of 0.74. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, topping the consensus estimate of ($1.33) by $0.06. The firm had revenue of $26.00 million during the quarter, compared to analysts’ expectations of $19.89 million. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The company’s quarterly revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.00) earnings per share. Equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Buying and Selling at Arcus Biosciences

In related news, General Counsel Carolyn C. Tang sold 6,810 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total value of $150,909.60. Following the sale, the general counsel directly owned 124,734 shares of the company’s stock, valued at $2,764,105.44. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert C. Goeltz II sold 5,960 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total value of $132,073.60. Following the transaction, the chief financial officer directly owned 74,476 shares of the company’s stock, valued at approximately $1,650,388.16. The trade was a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 433,977 shares of company stock worth $9,202,205 over the last quarter. 9.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Woodline Partners LP boosted its position in Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after buying an additional 1,603,367 shares during the period. RA Capital Management L.P. bought a new position in shares of Arcus Biosciences during the first quarter valued at $8,920,000. Bank of America Corp DE lifted its holdings in shares of Arcus Biosciences by 173.5% during the third quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock worth $18,507,000 after purchasing an additional 863,162 shares during the period. Cutter Capital Management LP bought a new stake in shares of Arcus Biosciences in the first quarter worth $5,745,000. Finally, Fisher Asset Management LLC grew its stake in shares of Arcus Biosciences by 727.1% in the third quarter. Fisher Asset Management LLC now owns 729,153 shares of the company’s stock worth $9,916,000 after purchasing an additional 640,990 shares during the last quarter. Institutional investors 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.