Arcus Biosciences (NYSE:RCUS) Given Neutral Rating at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Arcus Biosciences (NYSE:RCUS) in a report issued on Wednesday, Benzinga reports. HC Wainwright currently has a $20.00 price target on the stock.

RCUS has been the topic of several other research reports. Barclays raised their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, October 3rd. Wells Fargo & Company began coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price on the stock. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $33.67.

Arcus Biosciences Price Performance

Shares of RCUS traded down $0.05 during mid-day trading on Wednesday, reaching $15.68. The company’s stock had a trading volume of 335,613 shares, compared to its average volume of 724,659. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $20.31. The stock has a market cap of $1.43 billion, a PE ratio of -5.09 and a beta of 0.89. The company’s 50 day moving average is $16.61 and its 200 day moving average is $16.03.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.07. Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. During the same period in the prior year, the company posted ($0.94) earnings per share. The firm’s quarterly revenue was up 50.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences will post -3.25 EPS for the current fiscal year.

Institutional Trading of Arcus Biosciences

Several hedge funds have recently made changes to their positions in RCUS. Allspring Global Investments Holdings LLC raised its holdings in Arcus Biosciences by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,940 shares of the company’s stock worth $244,000 after purchasing an additional 1,090 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Arcus Biosciences by 5.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,356 shares of the company’s stock worth $583,000 after purchasing an additional 1,702 shares during the period. Nordea Investment Management AB raised its stake in shares of Arcus Biosciences by 26.3% during the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock worth $4,892,000 after buying an additional 53,944 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Arcus Biosciences in the first quarter valued at approximately $59,000. Finally, ProShare Advisors LLC grew its holdings in Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after acquiring an additional 746 shares during the period. 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.