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

by · The Markets Daily

Arcus Biosciences, Inc. (NYSE:RCUS – Get Free Report) has received an average rating of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $41.25.

Several equities research analysts have issued reports on RCUS shares. Morgan Stanley dropped their price objective on Arcus Biosciences from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, November 13th. Mizuho lowered their price target on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Thursday, February 22nd.

Get Our Latest Stock Report on Arcus Biosciences

Arcus Biosciences Stock Up 0.4 %

RCUS stock opened at $17.99 on Friday. Arcus Biosciences has a 52-week low of $12.95 and a 52-week high of $25.47. The stock’s 50 day moving average is $17.17 and its two-hundred day moving average is $17.31. The company has a market capitalization of $1.63 billion, a PE ratio of -4.33 and a beta of 0.82.

Arcus Biosciences (NYSE:RCUS – Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.01. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The company had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. During the same period in the previous year, the business earned ($0.93) EPS. Arcus Biosciences’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences will post -3.16 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 2,004 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.00, for a total transaction of $40,080.00. Following the completion of the transaction, the chief financial officer now directly owns 51,831 shares in the company, valued at approximately $1,036,620. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Robert C. Goeltz II sold 2,004 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.00, for a total transaction of $40,080.00. Following the completion of the transaction, the chief financial officer now directly owns 51,831 shares in the company, valued at approximately $1,036,620. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Gilead Sciences, Inc. acquired 15,238,095 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the purchase, the insider now owns 30,061,124 shares in the company, valued at $631,283,604. The disclosure for this purchase can be found here. Insiders sold a total of 58,955 shares of company stock worth $1,133,474 in the last three months. 13.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its position in Arcus Biosciences by 51.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,620 shares of the company’s stock worth $34,000 after acquiring an additional 550 shares during the period. The Manufacturers Life Insurance Company boosted its position in Arcus Biosciences by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,182 shares of the company’s stock worth $1,040,000 after acquiring an additional 822 shares during the period. AQR Capital Management LLC boosted its position in Arcus Biosciences by 0.7% during the 4th quarter. AQR Capital Management LLC now owns 120,964 shares of the company’s stock worth $2,502,000 after acquiring an additional 856 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Arcus Biosciences by 6.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 15,950 shares of the company’s stock valued at $324,000 after buying an additional 912 shares during the period. Finally, State of Tennessee Treasury Department lifted its holdings in shares of Arcus Biosciences by 3.7% in the second quarter. State of Tennessee Treasury Department now owns 31,948 shares of the company’s stock valued at $649,000 after buying an additional 1,127 shares during the period. Institutional investors and hedge funds own 74.67% of the company’s stock.

About Arcus Biosciences

(Get Free Report

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 investigational monoclonal 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.

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