Arcus Biosciences Inc (NYSE:RCUS) Given Consensus Rating of “Buy” by Brokerages

Shares of Arcus Biosciences Inc (NYSE:RCUS) have been given an average rating of “Buy” by the six research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $19.00.

RCUS has been the subject of several research reports. Mizuho initiated coverage on shares of Arcus Biosciences in a research report on Thursday, September 26th. They issued a “buy” rating and a $22.00 price target for the company. Zacks Investment Research cut shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, ValuEngine raised shares of Arcus Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Arcus Biosciences stock traded up $0.03 during trading hours on Tuesday, hitting $8.44. The company had a trading volume of 175,057 shares, compared to its average volume of 362,113. The firm has a market cap of $385.59 million, a P/E ratio of -5.90 and a beta of 1.04. Arcus Biosciences has a 1 year low of $6.30 and a 1 year high of $13.77. The company has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $8.98.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.24). Arcus Biosciences had a negative net margin of 736.31% and a negative return on equity of 30.67%. The company had revenue of $1.75 million during the quarter, compared to analysts’ expectations of $4.54 million. Research analysts forecast that Arcus Biosciences will post -2.01 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP raised its stake in shares of Arcus Biosciences by 17.3% during the 2nd quarter. GSA Capital Partners LLP now owns 16,243 shares of the company’s stock worth $129,000 after acquiring an additional 2,392 shares in the last quarter. Aperio Group LLC bought a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $32,000. Meeder Asset Management Inc. raised its stake in shares of Arcus Biosciences by 672.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,939 shares of the company’s stock worth $46,000 after acquiring an additional 4,300 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Arcus Biosciences by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 116,983 shares of the company’s stock worth $930,000 after acquiring an additional 9,980 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $119,000. 46.66% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

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