HC Wainwright Issues Pessimistic Forecast for RCUS Earnings

Arcus Biosciences, Inc. (NYSE:RCUS) – Investment analysts at HC Wainwright cut their FY2029 earnings per share estimates for Arcus Biosciences in a research note issued on Monday, July 20th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($1.04) per share for the year, down from their previous estimate of ($0.81). HC Wainwright has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Arcus Biosciences’ current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Arcus Biosciences’ FY2030 earnings at ($0.25) EPS.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The firm’s quarterly revenue was down 39.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.14) earnings per share.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley increased their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Truist Financial initiated coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They issued a “buy” rating and a $35.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Finally, Wedbush upped their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.40.

Arcus Biosciences Trading Down 0.9%

NYSE RCUS opened at $29.71 on Wednesday. The company has a market cap of $3.74 billion, a P/E ratio of -9.34 and a beta of 0.80. Arcus Biosciences has a 12 month low of $8.84 and a 12 month high of $31.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. The company has a 50-day moving average of $26.49 and a 200-day moving average of $23.82.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds have recently made changes to their positions in RCUS. AQR Capital Management LLC boosted its position in Arcus Biosciences by 253.9% during the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after purchasing an additional 65,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arcus Biosciences by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock valued at $297,000 after purchasing an additional 3,565 shares during the period. Millennium Management LLC lifted its stake in shares of Arcus Biosciences by 29.2% during the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after purchasing an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after purchasing an additional 470,755 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Arcus Biosciences during the first quarter worth about $67,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insider Buying and Selling

In other Arcus Biosciences news, President Juan C. Jaen sold 20,067 shares of Arcus Biosciences stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president directly owned 822,240 shares of the company’s stock, valued at $23,532,508.80. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert C. Goeltz II sold 7,763 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $25.63, for a total transaction of $198,965.69. Following the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 110,325 shares of company stock valued at $3,174,319. 7.60% of the stock is currently owned by corporate insiders.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.