Arcus Biosciences (NYSE:RCUS) Sets New 12-Month High – Should You Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week high on Tuesday . The company traded as high as $31.74 and last traded at $31.3960, with a volume of 67431 shares. The stock had previously closed at $31.08.

Wall Street Analyst Weigh In

RCUS has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upped their price objective on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Truist Financial started coverage on shares of Arcus Biosciences in a research report on Monday, May 18th. They issued a “buy” rating and a $35.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Finally, Lifesci Capital initiated coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price for the company. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Arcus Biosciences Stock Performance

The company has a fifty day moving average of $24.97 and a two-hundred day moving average of $23.03. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -9.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last issued 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). The firm had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.14) earnings per share. As a group, equities research analysts predict that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert C. Goeltz II sold 7,763 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 6,431 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $29.66, for a total transaction of $190,743.46. Following the completion of the transaction, the president owned 890,809 shares in the company, valued at $26,421,394.94. This trade represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 41,756 shares of company stock valued at $1,142,517. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Decheng Capital LLC boosted its stake in shares of Arcus Biosciences by 242.3% in the third quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after buying an additional 387,609 shares during the period. WINTON GROUP Ltd bought a new position in Arcus Biosciences during the 3rd quarter worth $1,254,000. Vanguard Group Inc. increased its stake in Arcus Biosciences by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock worth $90,161,000 after acquiring an additional 73,210 shares during the period. Fisher Asset Management LLC raised its holdings in Arcus Biosciences by 727.1% in the 3rd quarter. Fisher Asset Management LLC now owns 729,153 shares of the company’s stock valued at $9,916,000 after acquiring an additional 640,990 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in Arcus Biosciences by 16.0% in the 4th quarter. Aberdeen Group plc now owns 384,601 shares of the company’s stock valued at $9,165,000 after acquiring an additional 52,930 shares in 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.