Lifesci Capital Initiates Coverage on Arcus Biosciences (NYSE:RCUS)

Lifesci Capital started coverage on shares of Arcus Biosciences (NYSE:RCUS) in a research report issued on Thursday,Benzinga reports. The brokerage set an “outperform” rating and a $46.00 price target on the stock. Lifesci Capital’s price objective would indicate a potential upside of 83.27% from the stock’s previous close.

A number of other research firms also recently issued reports on RCUS. Truist Financial began coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They issued a “buy” rating and a $35.00 price target on the stock. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a research note on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup boosted their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.10.

Arcus Biosciences Trading Up 5.2%

Shares of Arcus Biosciences stock traded up $1.24 on Thursday, reaching $25.10. The company had a trading volume of 217,057 shares, compared to its average volume of 1,192,007. The firm’s 50 day moving average price is $23.71 and its two-hundred day moving average price is $22.79. The firm has a market cap of $3.16 billion, a PE ratio of -7.88 and a beta of 0.85. Arcus Biosciences has a 52-week low of $7.91 and a 52-week high of $28.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The company had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences’s revenue was down 39.3% on a year-over-year basis. During the same period last year, the firm posted ($1.14) earnings per share. Sell-side analysts predict that Arcus Biosciences will post -3.54 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the transaction, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of the firm’s 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 completion of the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. The trade was a 6.08% 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. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in shares of Arcus Biosciences by 16.7% in the first quarter. California State Teachers Retirement System now owns 105,776 shares of the company’s stock valued at $2,285,000 after purchasing an additional 15,110 shares during the period. Royal Bank of Canada boosted its stake in shares of Arcus Biosciences by 14.6% in the first 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. Quantinno Capital Management LP boosted its stake in shares of Arcus Biosciences by 8.5% in the first quarter. Quantinno Capital Management LP now owns 17,295 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the period. SummitTX Capital L.P. raised its holdings in Arcus Biosciences by 17.4% in the first quarter. SummitTX Capital L.P. now owns 34,219 shares of the company’s stock valued at $739,000 after acquiring an additional 5,076 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Arcus Biosciences in the first quarter worth approximately $294,000. 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.