Arcus Biosciences (NYSE:RCUS) Sees Unusually-High Trading Volume on Analyst Upgrade

Arcus Biosciences, Inc. (NYSE:RCUS) saw unusually-high trading volume on Thursday after Truist Financial raised their price target on the stock from $40.00 to $41.00. Truist Financial currently has a buy rating on the stock. Approximately 2,025,172 shares were traded during trading, an increase of 51% from the previous session’s volume of 1,342,331 shares. The stock last traded at $19.1410 and had previously closed at $19.10.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. started coverage on Arcus Biosciences in a research report on Wednesday, October 14th. They issued an “overweight” rating and a $41.00 target price on the stock. Wall Street Zen upgraded Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price objective on shares of Arcus Biosciences in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Thursday, October 15th. Finally, Wedbush raised their price objective on Arcus Biosciences from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday. Twelve 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, Arcus Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $39.64.

Insider Activity

In related news, CAO Alexander Azoy sold 2,827 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.60% of the company’s stock.

Arcus Biosciences News Summary

Here are the key news stories impacting Arcus Biosciences this week:

• Positive Sentiment: New ARC-20 data showed casdatifan activity across first-line, second-line and later-line clear cell renal cell carcinoma, with competitive or superior progression-free survival and response rates versus historical benchmarks and manageable safety. The results support Arcus’s goal of developing casdatifan as a treatment across multiple lines of kidney-cancer therapy. Arcus Presents New ARC-20 Casdatifan Data
• Positive Sentiment: Truist raised its price target to $41 and Wedbush increased its target to $49, maintaining bullish ratings. The revisions indicate that analysts see substantial upside if casdatifan’s clinical promise translates into successful late-stage development and commercialization.
• Neutral Sentiment: Arcus priced an underwritten public offering of 14.29 million common shares at $17.50 each, expected to generate approximately $250 million in gross proceeds. The funds should strengthen the company’s balance sheet and support clinical development, but the financing was priced around prevailing trading levels and increases the share count. Arcus Announces Pricing of $250 Million Offering
• Negative Sentiment: The equity sale creates immediate dilution for existing shareholders and highlights Arcus’s continuing need to fund expensive clinical programs before generating meaningful product revenue. The company remains loss-making, making financing terms and cash usage important risks for investors.
• Negative Sentiment: Kuehn Law announced an investigation into potential fiduciary-duty violations and alleged self-dealing by certain officers and directors. Although no wrongdoing has been established, the announcement adds legal and reputational uncertainty. Kuehn Law Announces Arcus Investigation

Institutional Trading of Arcus Biosciences

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Arcus Biosciences by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,855 shares of the company’s stock worth $125,000 after buying an additional 889 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of Arcus Biosciences by 59.7% during the 2nd quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock valued at $1,615,000 after buying an additional 19,578 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Arcus Biosciences during the 2nd quarter valued at approximately $30,000. Arizona State Retirement System raised its position in shares of Arcus Biosciences by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock valued at $746,000 after buying an additional 409 shares during the period. Finally, Nykredit A S acquired a new position in Arcus Biosciences in the second quarter valued at approximately $134,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 1.6%

The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -4.97 and a beta of 0.94. The business has a fifty day moving average of $26.53 and a 200 day moving average of $26.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. The company’s revenue for the quarter was down 74.4% on a year-over-year basis. As a group, equities analysts predict that Arcus Biosciences, Inc. will post -3.55 earnings per share for the current year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.