Arcus Biosciences (NYSE:RCUS) Releases Earnings Results

06 Aug 2026, 18:42 by Mitch Edgeman · The Markets Daily

Arcus Biosciences (NYSE:RCUS – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17, FiscalAI reports. The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $21.98 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. Arcus Biosciences’s revenue was down 74.4% compared to the same quarter last year.

Here are the key takeaways from Arcus Biosciences’ conference call:

Arcus remains on track to complete enrollment in the phase 3 PEAK-1 trial of casdatifan plus cabozantinib in second-line clear-cell renal cell carcinoma by year-end and plans to initiate the frontline PEAK-20 registrational study by the end of 2026.
The company expects substantial casdatifan data in October, including first-line, second-line and late-line efficacy and safety readouts from more than 200 patients. Management believes the data could support casdatifan’s potential as a backbone therapy across the RCC treatment paradigm.
Arcus expanded clinical collaborations with BMS, Summit Therapeutics and AVEO Oncology to test casdatifan in additional combinations and settings while retaining its rights, supporting a broader and more capital-efficient development strategy.
Arcus plans to initiate human dosing of its oral MRGPRX2 antagonist AB102 this month, with initial pharmacokinetic data expected in the fourth quarter, while its selective TNF receptor 1 inhibitor is expected to enter the clinic in early 2027.
Cash and investments declined to $775 million from $876 million in the prior quarter, and full-year 2026 revenue guidance is $65 million–$75 million; management also expects lower collaboration revenue as the Gilead domvanalimab program winds down.

Arcus Biosciences Price Performance

RCUS traded down $0.09 on Thursday, hitting $27.61. 1,750,072 shares of the company were exchanged, compared to its average volume of 1,242,831. Arcus Biosciences has a fifty-two week low of $8.88 and a fifty-two week high of $31.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market capitalization of $3.47 billion, a P/E ratio of -8.69 and a beta of 0.80. The business’s fifty day moving average is $27.26 and its 200 day moving average is $24.18.

Insider Activity at Arcus Biosciences

In related news, President Juan C. Jaen sold 48,502 shares of Arcus Biosciences stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $30.05, for a total transaction of $1,457,485.10. Following the completion of the transaction, the president directly owned 842,307 shares of the company’s stock, valued at approximately $25,311,325.35. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.77, for a total value of $66,022.74. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This trade represents a 6.08% decrease in their position. 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. Insiders sold 110,325 shares of company stock valued at $3,174,319 in the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCUS. T. Rowe Price Investment Management Inc. acquired a new stake in Arcus Biosciences during the 4th quarter valued at $39,000. Invesco Ltd. increased its position in Arcus Biosciences by 41.7% during the 4th quarter. Invesco Ltd. now owns 414,365 shares of the company’s stock worth $9,874,000 after purchasing an additional 121,961 shares in the last quarter. State of Tennessee Department of Treasury increased its position in Arcus Biosciences by 34.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 34,855 shares of the company’s stock worth $831,000 after purchasing an additional 8,886 shares in the last quarter. VestGen Advisors LLC acquired a new position in Arcus Biosciences in the 4th quarter valued at about $647,000. Finally, Wellington Management Group LLP raised its stake in Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after purchasing an additional 3,918,220 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RCUS has been the subject of several analyst reports. Wedbush upped their price objective on Arcus Biosciences from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. HC Wainwright boosted their price target on shares of Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Wells Fargo & Company lifted their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.90.

Read Our Latest Research Report on RCUS

Arcus Biosciences Company Profile

(Get Free Report)

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.