Arcus Biosciences (NYSE:RCUS) Upgraded at Truist Financial

Arcus Biosciences (NYSE:RCUS) was upgraded by Truist Financial to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Leerink Partners upped their price target on shares of Arcus Biosciences from $36.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Bank of America raised their price objective on shares of Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. UBS Group restated a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. The Goldman Sachs Group raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $16.00 to $28.00 in a report on Monday, January 12th. Finally, Citigroup increased their price target on Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Arcus Biosciences Stock Up 5.9%

RCUS stock opened at $21.44 on Wednesday. The business’s 50-day moving average price is $21.45 and its 200-day moving average price is $19.99. The stock has a market cap of $2.69 billion, a P/E ratio of -6.50 and a beta of 0.85. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.11) by $0.22. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The company had revenue of $33.00 million during the quarter, compared to analyst estimates of $24.94 million. During the same period in the prior year, the firm posted ($1.03) EPS. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Arcus Biosciences will post -3.15 EPS for the current year.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 6,552 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total transaction of $153,185.76. Following the sale, the chief financial officer owned 67,924 shares in the company, valued at $1,588,063.12. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Juan C. Jaen sold 31,823 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $21.41, for a total transaction of $681,330.43. Following the completion of the transaction, the president directly owned 922,240 shares in the company, valued at $19,745,158.40. This trade represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its stake in Arcus Biosciences by 217.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,224 shares of the company’s stock worth $291,000 after purchasing an additional 8,368 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Arcus Biosciences in the fourth quarter worth about $39,000. Invesco Ltd. lifted its position in shares of Arcus Biosciences by 41.7% in the fourth quarter. Invesco Ltd. now owns 414,365 shares of the company’s stock worth $9,874,000 after buying an additional 121,961 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Arcus Biosciences by 34.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,855 shares of the company’s stock worth $831,000 after buying an additional 8,886 shares in the last quarter. Finally, VestGen Advisors LLC bought a new position in Arcus Biosciences during the fourth quarter valued at approximately $647,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.