Arcus Biosciences (NYSE:RCUS) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Arcus Biosciences (NYSE:RCUS) in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $41.00 price target on the stock.

RCUS has been the topic of several other research reports. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $43.00 price target on shares of Arcus Biosciences in a research note on Wednesday, September 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, September 11th. Finally, HC Wainwright boosted their price objective on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Twelve equities research 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 an average target price of $38.55.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $22.07 on Wednesday. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -5.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The business’s 50 day simple moving average is $26.96 and its 200-day simple moving average is $26.20. Arcus Biosciences has a 12 month low of $16.04 and a 12 month high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.17. The firm had revenue of $41.00 million during the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The firm’s revenue was down 74.4% compared to the same quarter last year. As a group, equities analysts forecast that Arcus Biosciences will post -3.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Arcus Biosciences by 10.0% during the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after buying an additional 359 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arcus Biosciences by 1.7% in the second quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock valued at $746,000 after acquiring an additional 409 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Arcus Biosciences by 14.6% during the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after acquiring an additional 607 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Arcus Biosciences during the second quarter valued at $30,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Arcus Biosciences by 8.5% during the first quarter. Quantinno Capital Management LP now owns 17,295 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.

Arcus’ oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.