Arcus Biosciences (NYSE:RCUS) Earns Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Arcus Biosciences (NYSE:RCUS) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $50.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. Mizuho dropped their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a buy rating on the stock in a research report on Tuesday, January 30th. Wedbush reissued an outperform rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Arcus Biosciences has an average rating of Moderate Buy and an average price target of $41.25.

Arcus Biosciences Trading Up 9.5 %

NYSE RCUS opened at $18.24 on Monday. The firm’s fifty day moving average price is $17.05 and its two-hundred day moving average price is $16.96. Arcus Biosciences has a 1 year low of $12.95 and a 1 year high of $25.47. The firm has a market capitalization of $1.66 billion, a P/E ratio of -4.40 and a beta of 0.82.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.01. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The firm had revenue of $31.00 million for the quarter, compared to analyst estimates of $28.30 million. During the same period in the prior year, the firm posted ($0.93) earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, research analysts anticipate that Arcus Biosciences will post -3.16 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 13,449 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $17.92, for a total value of $241,006.08. Following the transaction, the chief operating officer now directly owns 226,804 shares in the company, valued at $4,064,327.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 2,004 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $20.00, for a total transaction of $40,080.00. Following the sale, the chief financial officer now directly owns 51,831 shares in the company, valued at $1,036,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Jarrett sold 13,449 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $17.92, for a total transaction of $241,006.08. Following the completion of the sale, the chief operating officer now owns 226,804 shares in the company, valued at $4,064,327.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,883 shares of company stock worth $992,267. Corporate insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently made changes to their positions in RCUS. MetLife Investment Management LLC boosted its stake in shares of Arcus Biosciences by 57.4% in the 1st quarter. MetLife Investment Management LLC now owns 25,039 shares of the company’s stock valued at $790,000 after purchasing an additional 9,127 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Arcus Biosciences by 77.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 437,969 shares of the company’s stock valued at $13,826,000 after buying an additional 190,527 shares during the last quarter. Vanguard Group Inc. raised its holdings in Arcus Biosciences by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 3,512,114 shares of the company’s stock valued at $110,843,000 after buying an additional 85,778 shares during the last quarter. Ergoteles LLC bought a new position in Arcus Biosciences in the 1st quarter valued at approximately $1,261,000. Finally, Lazard Asset Management LLC bought a new position in Arcus Biosciences in the 1st quarter valued at approximately $76,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

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.