Fintel reports that on October 8, 2024, Wells Fargo initiated coverage of Arcus Biosciences (NYSE:RCUS) with a Overweight recommendation.
Analyst Price Forecast Suggests 101.12% Upside
As of September 25, 2024, the average one-year price target for Arcus Biosciences is $34.79/share. The forecasts range from a low of $23.23 to a high of $48.30. The average price target represents an increase of 101.12% from its latest reported closing price of $17.30 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Arcus Biosciences is 162MM, a decrease of 34.35%. The projected annual non-GAAP EPS is -4.49.
What is the Fund Sentiment?
There are 440 funds or institutions reporting positions in Arcus Biosciences. This is an increase of 17 owner(s) or 4.02% in the last quarter. Average portfolio weight of all funds dedicated to RCUS is 0.13%, an increase of 0.36%. Total shares owned by institutions decreased in the last three months by 1.36% to 56,034K shares. 
The put/call ratio of RCUS is 0.29, indicating a bullish outlook.
What are Other Shareholders Doing?
Woodline Partners holds 4,245K shares representing 4.64% ownership of the company. In its prior filing, the firm reported owning 2,884K shares , representing an increase of 32.07%. The firm increased its portfolio allocation in RCUS by 23.16% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,529K shares representing 3.86% ownership of the company. In its prior filing, the firm reported owning 3,657K shares , representing a decrease of 3.64%. The firm decreased its portfolio allocation in RCUS by 19.16% over the last quarter.
FBIOX - Biotechnology Portfolio holds 2,395K shares representing 2.62% ownership of the company. In its prior filing, the firm reported owning 2,937K shares , representing a decrease of 22.63%. The firm decreased its portfolio allocation in RCUS by 29.30% over the last quarter.
Point72 Asset Management holds 1,834K shares representing 2.01% ownership of the company. In its prior filing, the firm reported owning 1,915K shares , representing a decrease of 4.42%. The firm decreased its portfolio allocation in RCUS by 16.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,615K shares representing 1.77% ownership of the company. In its prior filing, the firm reported owning 1,531K shares , representing an increase of 5.19%. The firm decreased its portfolio allocation in RCUS by 17.26% over the last quarter.
Arcus Biosciences Background Information
(This description is provided by the company.)
Arcus Biosciences is an oncology-focused biopharmaceutical company leveraging its deep cross-disciplinary expertise to discover highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet needs. Arcus currently has four molecules in clinical development: Etrumadenant (AB928), the first dual A2a/A2b adenosine receptor antagonist to enter the clinic, is being evaluated in multiple Phase 2 and 1b studies across different indications, including prostate, colorectal, non-small cell lung, pancreatic and triple-negative breast cancers. AB680, the first small-molecule CD73 inhibitor to enter the clinic, is in Phase 1/1b development for first-line treatment of metastatic pancreatic cancer in combination with zimberelimab and gemcitabine/nab-paclitaxel. Domvanalimab (AB154), an anti-TIGIT monoclonal antibody and new potential immuno-oncology backbone therapy, is in a three-arm randomized Phase 2 study for first-line treatment of PD-L1- 1.
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