Arcus Biosciences (NYSE:RCUS) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Arcus Biosciences (NYSE:RCUS) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $29.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald restated an overweight rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Evercore ISI upgraded Arcus Biosciences to a strong-buy rating in a research report on Friday, August 9th. Truist Financial reduced their price objective on Arcus Biosciences from $50.00 to $44.00 and set a buy rating on the stock in a research note on Monday, June 24th. Barclays lowered their target price on Arcus Biosciences from $35.00 to $25.00 and set an overweight rating for the company in a research note on Monday, July 8th. Finally, Wedbush restated an outperform rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $34.88.

Arcus Biosciences Trading Up 7.4 %

Shares of NYSE RCUS opened at $18.37 on Tuesday. The firm has a market cap of $1.68 billion, a P/E ratio of -5.94 and a beta of 0.88. The business’s 50 day moving average is $16.35 and its 200-day moving average is $16.06. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The firm had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period last year, the firm earned ($1.04) EPS. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. Analysts forecast that Arcus Biosciences will post -3.03 EPS for the current year.

Institutional Trading of Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock valued at $46,000 after buying an additional 826 shares during the period. Headlands Technologies LLC bought a new stake in Arcus Biosciences in the first quarter valued at approximately $59,000. Innealta Capital LLC acquired a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $66,000. Point72 DIFC Ltd bought a new position in Arcus Biosciences during the 2nd quarter worth approximately $83,000. Finally, ProShare Advisors LLC lifted its position in shares of Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares during the period. 92.89% of the stock is currently owned by institutional investors.

About Arcus Biosciences

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.