Arcus Biosciences (NYSE:RCUS) Stock Rating Upgraded by HC Wainwright

Arcus Biosciences (NYSE:RCUS) was upgraded by HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $24.00 target price on the stock, up from their previous target price of $18.00. HC Wainwright’s price target indicates a potential upside of 134.03% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Morgan Stanley lowered their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, Bank of America dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Arcus Biosciences has an average rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Price Performance

RCUS opened at $10.26 on Wednesday. The stock’s 50-day moving average price is $13.67 and its 200 day moving average price is $15.50. Arcus Biosciences has a 12-month low of $10.01 and a 12-month high of $20.31. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -3.26 and a beta of 0.84. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. As a group, sell-side analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Buying and Selling at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new position in Arcus Biosciences in the 4th quarter valued at $26,000. Point72 Hong Kong Ltd purchased a new position in shares of Arcus Biosciences during the 3rd quarter worth approximately $47,000. Lazard Asset Management LLC lifted its holdings in shares of Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after buying an additional 6,078 shares during the period. US Bancorp DE boosted its stake in shares of Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after buying an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after buying an additional 9,408 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

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.