Arcus Biosciences (NYSE:RCUS) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Posted by Geri Gentry on Aug 7th, 2026

Arcus Biosciences (NYSE:RCUS – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17, FiscalAI reports. Arcus Biosciences had a negative return on equity of 86.74% and a negative net margin of 393.16%.The business had revenue of $41.00 million during the quarter, compared to analyst estimates of $21.98 million. 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 Stock Performance

Shares of RCUS traded down $0.01 during trading hours on Friday, hitting $28.32. The company’s stock had a trading volume of 388,557 shares, compared to its average volume of 1,243,363. The business has a 50 day simple moving average of $27.33 and a two-hundred day simple moving average of $24.22. Arcus Biosciences has a 52-week low of $8.88 and a 52-week 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 market cap of $3.56 billion, a price-to-earnings ratio of -7.26 and a beta of 0.80.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the transaction, the chief financial officer directly owned 84,161 shares in the company, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total value of $1,457,485.10. Following the sale, the president owned 842,307 shares in the company, valued at approximately $25,311,325.35. The trade was a 5.44% 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 ninety days, insiders sold 110,325 shares of company stock worth $3,174,319. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of RCUS. T. Rowe Price Investment Management Inc. purchased a new position in Arcus Biosciences during the fourth quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its stake in Arcus Biosciences by 184.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after purchasing an additional 5,476 shares in the last quarter. Strs Ohio bought a new position in Arcus Biosciences in the 1st quarter valued at $67,000. Inceptionr LLC bought a new position in Arcus Biosciences in the 4th quarter valued at $210,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Arcus Biosciences during the 2nd quarter valued at $97,000. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RCUS shares. Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research note on Monday, April 20th. The Goldman Sachs Group restated a “buy” rating and set a $42.00 price target on shares of Arcus Biosciences in a report on Friday. Lifesci Capital began coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price objective for the company. HC Wainwright lifted their target price on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Eight research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.70.

View Our Latest Stock Report on Arcus Biosciences

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.

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.