Arcus Biosciences (NYSE:RCUS) Shares Up 10.6% – Time to Buy?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price rose 10.6% during trading on Monday . The company traded as high as $26.58 and last traded at $26.8990. 1,063,315 shares were traded during trading, a decline of 12% from the average session volume of 1,204,275 shares. The stock had previously closed at $24.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RCUS shares. Morgan Stanley lifted their price objective on Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Truist Financial began coverage on Arcus Biosciences in a research report on Monday, May 18th. They issued a “buy” rating and a $35.00 target price for the company. Citigroup boosted their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Arcus Biosciences in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $35.10.

Arcus Biosciences Stock Up 11.7%

The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market cap of $3.41 billion, a PE ratio of -8.49 and a beta of 0.85. The business’s 50 day moving average is $24.21 and its 200-day moving average is $22.87.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.48 million. During the same period in the prior year, the company posted ($1.14) earnings per share. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. As a group, analysts predict that Arcus Biosciences, Inc. will post -3.66 EPS for the current year.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 7,763 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares in the company, valued at $2,157,046.43. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its stake in Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Arcus Biosciences in the fourth quarter valued at approximately $39,000. KBC Group NV acquired a new stake in Arcus Biosciences during the first quarter worth approximately $50,000. Strs Ohio acquired a new stake in Arcus Biosciences during the first quarter worth approximately $67,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Arcus Biosciences by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after buying an additional 5,476 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.