Arcus Biosciences (NYSE:RCUS) Price Target Lowered to $44.00 at Truist Financial

Arcus Biosciences (NYSE:RCUS) had its price objective reduced by Truist Financial from $50.00 to $44.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on RCUS. Citigroup boosted their price objective on shares of Arcus Biosciences from $36.00 to $38.00 and gave the company a buy rating in a research report on Monday, June 3rd. Wedbush reaffirmed an outperform rating and issued a $30.00 target price on shares of Arcus Biosciences in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Arcus Biosciences has a consensus rating of Moderate Buy and an average target price of $39.75.

Arcus Biosciences Trading Up 0.2 %

NYSE:RCUS opened at $16.39 on Monday. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $25.47. The company has a 50 day simple moving average of $15.95 and a two-hundred day simple moving average of $16.89. The company has a market cap of $1.49 billion, a PE ratio of -5.27 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.92. Arcus Biosciences had a negative net margin of 97.47% and a negative return on equity of 40.98%. The firm had revenue of $145.00 million during the quarter, compared to the consensus estimate of $28.77 million. During the same quarter in the previous year, the firm posted ($1.09) EPS. The company’s revenue for the quarter was up 480.0% compared to the same quarter last year. Research analysts forecast that Arcus Biosciences will post -3.02 earnings per share for the current year.

Insider Buying and Selling

In other Arcus Biosciences news, COO Jennifer Jarrett sold 11,551 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total value of $202,720.05. Following the sale, the chief operating officer now owns 215,253 shares in the company, valued at approximately $3,777,690.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Arcus Biosciences

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Arcus Biosciences by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after purchasing an additional 1,906 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Arcus Biosciences by 16.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,492 shares of the company’s stock valued at $319,000 after buying an additional 2,420 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Arcus Biosciences by 26.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock valued at $12,933,000 after buying an additional 145,298 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors 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.