Arcus Biosciences Inc (NYSE:RCUS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Arcus Biosciences Inc (NYSE:RCUS) have been assigned an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.56.

A number of analysts have recently commented on RCUS shares. ValuEngine upgraded Arcus Biosciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Svb Leerink reiterated an “outperform” rating on shares of Arcus Biosciences in a research report on Friday, May 3rd. Citigroup cut their target price on Arcus Biosciences from $25.00 to $15.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 5th. Finally, Zacks Investment Research upgraded Arcus Biosciences from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research report on Thursday, July 4th.

In related news, President Juan C. Jaen purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $7.59 per share, for a total transaction of $113,850.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn E. Falberg purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $8.20 per share, for a total transaction of $164,000.00. The disclosure for this purchase can be found here. Insiders have bought 140,343 shares of company stock worth $1,120,078 in the last quarter. Insiders own 19.23% of the company’s stock.

A number of hedge funds have recently modified their holdings of RCUS. Aperio Group LLC acquired a new position in Arcus Biosciences in the 2nd quarter valued at about $32,000. Great West Life Assurance Co. Can acquired a new position in Arcus Biosciences in the 4th quarter valued at about $51,000. Legal & General Group Plc increased its position in Arcus Biosciences by 311.5% in the 4th quarter. Legal & General Group Plc now owns 5,818 shares of the company’s stock valued at $62,000 after acquiring an additional 4,404 shares during the period. BNP Paribas Arbitrage SA increased its position in Arcus Biosciences by 1,931.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the company’s stock valued at $81,000 after acquiring an additional 6,200 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Arcus Biosciences in the 1st quarter valued at about $110,000. Hedge funds and other institutional investors own 46.56% of the company’s stock.

Shares of RCUS traded up $0.01 during midday trading on Thursday, reaching $6.60. 2,777 shares of the stock were exchanged, compared to its average volume of 96,264. The firm has a 50-day simple moving average of $8.34. Arcus Biosciences has a twelve month low of $6.30 and a twelve month high of $16.06. The stock has a market cap of $304.62 million, a P/E ratio of -4.57 and a beta of 1.02.

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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