Arcus Biosciences (NYSE:RCUS) Given New $45.00 Price Target at Citigroup

Arcus Biosciences (NYSE:RCUS) had its price objective boosted by Citigroup from $44.00 to $45.00 in a report issued on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts also recently weighed in on RCUS. Bank of America upped their target price on Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, January 21st. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a research note on Friday, December 12th. Wells Fargo & Company set a $23.00 target price on shares of Arcus Biosciences and gave the company an “equal weight” rating in a report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.20.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $22.10 on Thursday. The firm has a 50-day moving average price of $21.54 and a two-hundred day moving average price of $18.79. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $26.40. The company has a market capitalization of $2.77 billion, a P/E ratio of -6.70 and a beta of 0.85. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.16.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.22. The company had revenue of $33.00 million during the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative net margin of 142.91% and a negative return on equity of 65.77%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.03) earnings per share. Analysts anticipate that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Activity

In related news, CEO Terry J. Rosen sold 28,947 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $633,360.36. Following the completion of the transaction, the chief executive officer directly owned 2,220,553 shares in the company, valued at $48,585,699.64. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert C. Goeltz II sold 6,702 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $146,639.76. Following the completion of the transaction, the chief financial officer directly owned 80,436 shares of the company’s stock, valued at approximately $1,759,939.68. The trade was a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 180,990 shares of company stock valued at $3,974,764. Corporate insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCUS. GAMMA Investing LLC boosted its holdings in shares of Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after acquiring an additional 1,021 shares in the last quarter. Hantz Financial Services Inc. raised its position in Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after purchasing an additional 2,845 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Arcus Biosciences during the fourth quarter worth about $39,000. Finally, CWM LLC grew its holdings in shares of Arcus Biosciences by 233.6% during the second quarter. CWM LLC now owns 5,441 shares of the company’s stock worth $44,000 after purchasing an additional 3,810 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.