Arcus Biosciences (NYSE:RCUS) Trading 10.6% Higher – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price rose 10.6% during mid-day trading on Monday . The stock traded as high as $26.58 and last traded at $26.8990. Approximately 1,063,315 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 1,204,275 shares. The stock had previously closed at $24.31.

Analysts Set New Price Targets

Several equities research analysts recently commented on RCUS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Wedbush upped their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Arcus Biosciences in a report on Monday, March 2nd. Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Truist Financial assumed coverage on Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Arcus Biosciences Stock Up 11.7%

The business’s fifty day moving average price is $24.21 and its 200 day moving average price is $22.87. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -8.49 and a beta of 0.85. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $29.48 million. During the same quarter in the prior year, the company earned ($1.14) EPS. The firm’s revenue for the quarter was down 39.3% on a year-over-year basis. On average, equities analysts expect that Arcus Biosciences, Inc. will post -3.66 EPS for the current year.

Insider Transactions at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,562 shares of the stock in a transaction dated 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 sale, the chief accounting officer owned 39,581 shares in the company, valued at approximately $1,020,002.37. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the transaction, the chief financial officer directly owned 84,161 shares in the company, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcus Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its stake in shares of Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth approximately $39,000. KBC Group NV purchased a new stake in shares of Arcus Biosciences during the first quarter worth approximately $50,000. GAMMA Investing LLC lifted its holdings in shares of Arcus Biosciences by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after purchasing an additional 482 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $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.