Arcus Biosciences, Inc. (NYSE:RCUS) Receives Average Recommendation of “Buy” from Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.25.

A number of brokerages have commented on RCUS. Bank of America dropped their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley dropped their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Terry J. Rosen acquired 19,800 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the transaction, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RCUS. Woodline Partners LP lifted its stake in shares of Arcus Biosciences by 1.3% in the 4th quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after acquiring an additional 45,497 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Arcus Biosciences by 35.8% in the 4th quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock worth $876,000 after acquiring an additional 15,500 shares during the period. Two Sigma Investments LP lifted its stake in shares of Arcus Biosciences by 8.1% in the 4th quarter. Two Sigma Investments LP now owns 146,686 shares of the company’s stock worth $2,184,000 after acquiring an additional 11,027 shares during the period. Tema Etfs LLC acquired a new stake in shares of Arcus Biosciences in the 4th quarter worth $331,000. Finally, ProShare Advisors LLC lifted its stake in shares of Arcus Biosciences by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 16,379 shares of the company’s stock worth $244,000 after acquiring an additional 5,038 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Trading Up 0.8 %

Shares of NYSE:RCUS opened at $9.06 on Friday. Arcus Biosciences has a 52 week low of $8.82 and a 52 week high of $19.11. The company’s 50 day moving average is $11.89 and its two-hundred day moving average is $14.72. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a market cap of $952.87 million, a PE ratio of -2.88 and a beta of 1.36.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. Equities analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Arcus Biosciences Company Profile

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.