Arcus Biosciences (NYSE:RCUS) Now Covered by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Arcus Biosciences (NYSE:RCUS - Free Report) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $20.00 price target on the stock.

A number of other brokerages have also recently commented on RCUS. Wells Fargo & Company assumed coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They set an "overweight" rating and a $29.00 price objective for the company. Barclays decreased their price objective on Arcus Biosciences from $35.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, July 8th. Truist Financial reduced their target price on Arcus Biosciences from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Monday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Finally, Wedbush reiterated an "outperform" rating and set a $30.00 target price on shares of Arcus Biosciences in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $33.22.

Arcus Biosciences Stock Down 8.0 %

Shares of Arcus Biosciences stock traded down $1.48 during trading on Monday, reaching $16.96. 1,063,341 shares of the company were exchanged, compared to its average volume of 717,863. Arcus Biosciences has a twelve month low of $12.95 and a twelve month high of $20.31. The business has a 50-day moving average price of $16.73 and a 200-day moving average price of $16.03. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -5.45 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting analysts' consensus estimates of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million during the quarter, compared to analysts' expectations of $26.24 million. During the same period in the previous year, the firm earned ($1.04) earnings per share. The firm's quarterly revenue was up 34.5% compared to the same quarter last year. On average, equities research analysts forecast that Arcus Biosciences will post -3.11 EPS for the current fiscal year.

Institutional Trading of Arcus Biosciences

Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Arcus Biosciences by 26.3% in the first quarter. Nordea Investment Management AB now owns 259,372 shares of the company's stock valued at $4,892,000 after purchasing an additional 53,944 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company's stock valued at $90,459,000 after purchasing an additional 110,528 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Arcus Biosciences by 8.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company's stock valued at $11,336,000 after purchasing an additional 59,273 shares in the last quarter. SG Americas Securities LLC raised its holdings in Arcus Biosciences by 1,396.1% during the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company's stock worth $1,969,000 after acquiring an additional 120,650 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Arcus Biosciences during the second quarter worth about $1,286,000. 92.89% of the stock is currently owned by institutional investors.

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.