Arcus Biosciences (NYSE:RCUS) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Arcus Biosciences (NYSE:RCUS) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company set a $23.00 target price on shares of Arcus Biosciences and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Leerink Partners boosted their price target on Arcus Biosciences from $36.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, January 21st. Citigroup raised their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Arcus Biosciences Trading Up 5.9%

Shares of Arcus Biosciences stock opened at $21.44 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36. The firm has a 50-day moving average of $21.45 and a 200-day moving average of $19.99. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40. The stock has a market cap of $2.69 billion, a PE ratio of -6.50 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The business had revenue of $33.00 million for the quarter, compared to analyst estimates of $24.94 million. During the same period last year, the firm earned ($1.03) earnings per share. Arcus Biosciences’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Arcus Biosciences will post -3.15 EPS for the current year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 31,823 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.41, for a total transaction of $681,330.43. Following the sale, the president owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert C. Goeltz II sold 6,552 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $23.38, for a total transaction of $153,185.76. Following the transaction, the chief financial officer owned 67,924 shares of the company’s stock, valued at $1,588,063.12. This trade represents a 8.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after acquiring an additional 3,918,220 shares during the last quarter. Marshall Wace LLP bought a new position in Arcus Biosciences in the fourth quarter valued at about $80,731,000. Suvretta Capital Management LLC boosted its stake in shares of Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after purchasing an additional 1,500,000 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of Arcus Biosciences during the fourth quarter worth about $35,380,000. Finally, Vanguard Group Inc. grew its holdings in shares of Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after purchasing an additional 1,333,421 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.