FY2029 Earnings Estimate for RCUS Issued By Wedbush

Arcus Biosciences, Inc. (NYSE:RCUS) – Analysts at Wedbush issued their FY2029 earnings estimates for Arcus Biosciences in a research note issued to investors on Tuesday, February 18th. Wedbush analyst R. Driscoll forecasts that the company will post earnings of $3.03 per share for the year. Wedbush currently has a “Outperform” rating and a $36.00 target price on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.20) per share.

Several other analysts also recently weighed in on the stock. Barclays lifted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America decreased their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. HC Wainwright cut their price objective on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $10.76 on Thursday. The company has a 50 day moving average price of $14.02 and a 200-day moving average price of $15.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences has a fifty-two week low of $10.63 and a fifty-two week high of $20.31. The company has a market capitalization of $984.21 million, a PE ratio of -3.41 and a beta of 0.84.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares in the company, valued at approximately $902,070. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arcus Biosciences by 2.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock worth $506,000 after acquiring an additional 833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock worth $471,000 after purchasing an additional 843 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth about $26,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Arcus Biosciences by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock worth $223,000 after purchasing an additional 2,410 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.