Arcus Biosciences (NYSE:RCUS) Hits New 12-Month High - Still a Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $22.44 and last traded at $22.3790, with a volume of 883816 shares trading hands. The stock had previously closed at $21.23.

Analyst Ratings Changes

• From laggards to leaders: Small caps on the rise

A number of equities analysts have weighed in on RCUS shares. HC Wainwright upped their price target on shares of Arcus Biosciences from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Arcus Biosciences from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, October 30th. Wedbush set a $35.00 price target on shares of Arcus Biosciences and gave the company an "outperform" rating in a research note on Wednesday, October 29th. Finally, Truist Financial reiterated a "buy" rating and set a $39.00 target price (up from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $28.44.

Read Our Latest Report on Arcus Biosciences

Arcus Biosciences Trading Up 5.6%

• MarketBeat Week in Review – 7/10 - 7/14

The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -6.50 and a beta of 0.90. The stock has a 50-day simple moving average of $16.44 and a 200 day simple moving average of $11.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business had revenue of $26.00 million for the quarter, compared to the consensus estimate of $19.89 million. During the same period in the prior year, the firm earned ($1.00) EPS. The business's revenue for the quarter was down 45.8% on a year-over-year basis. As a group, equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity

• Gilead Boosts Biotech Footprint With Stakes In AlloVir And Arcus

In related news, President Juan C. Jaen sold 77,840 shares of the business's stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $20.90, for a total value of $1,626,856.00. Following the completion of the sale, the president owned 1,091,374 shares of the company's stock, valued at approximately $22,809,716.60. The trade was a 6.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert C. Goeltz II sold 5,000 shares of the firm's stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer directly owned 92,138 shares in the company, valued at $1,842,760. This represents a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 210,875 shares of company stock worth $4,017,263. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Goldman Sachs Group Inc. boosted its position in Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company's stock worth $7,177,000 after acquiring an additional 470,755 shares during the last quarter. Rhumbline Advisers increased its position in shares of Arcus Biosciences by 14.8% during the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company's stock worth $1,436,000 after purchasing an additional 23,645 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Arcus Biosciences by 45.5% in the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock worth $40,249,000 after acquiring an additional 1,603,367 shares during the last quarter. Nordea Investment Management AB lifted its stake in Arcus Biosciences by 17.1% during the second quarter. Nordea Investment Management AB now owns 319,899 shares of the company's stock worth $2,633,000 after purchasing an additional 46,776 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Arcus Biosciences during the 2nd quarter valued at about $295,000. Institutional investors and hedge funds own 92.89% of the company's stock.

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.

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