Arcus Biosciences (NYSE:RCUS) Reaches New 1-Year High – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $26.40 and last traded at $25.8560, with a volume of 84024 shares trading hands. The stock had previously closed at $25.80.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Bank of America upped their target price on Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. HC Wainwright lifted their target price on Arcus Biosciences from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Truist Financial restated a “buy” rating and set a $39.00 price target (up from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $29.44.

Arcus Biosciences Trading Down 0.7%

The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -7.45 and a beta of 0.74. The firm’s 50-day moving average is $19.50 and its 200-day moving average is $13.32. 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 quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. The firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.00) earnings per share. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Juan C. Jaen sold 82,997 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total value of $2,050,855.87. Following the completion of the sale, the president directly owned 954,063 shares of the company’s stock, valued at approximately $23,574,896.73. This represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Jarrett sold 37,792 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total value of $568,769.60. Following the transaction, the chief operating officer owned 214,232 shares in the company, valued at approximately $3,224,191.60. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 294,193 shares of company stock valued at $6,098,761. 9.60% of the stock is owned by company insiders.

Institutional Trading of Arcus Biosciences

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its position in shares of Arcus Biosciences by 39.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,120,062 shares of the company’s stock valued at $15,233,000 after purchasing an additional 314,757 shares in the last quarter. Vestal Point Capital LP purchased a new stake in Arcus Biosciences in the 3rd quarter valued at about $3,400,000. Public Employees Retirement System of Ohio purchased a new position in shares of Arcus Biosciences in the 3rd quarter worth approximately $299,000. Parkman Healthcare Partners LLC boosted its stake in shares of Arcus Biosciences by 8.9% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 652,680 shares of the company’s stock worth $8,876,000 after buying an additional 53,070 shares during the last quarter. Finally, Decheng Capital LLC grew its holdings in shares of Arcus Biosciences by 242.3% in the third quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after acquiring an additional 387,609 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.