Arcus Biosciences (NYSE:RCUS) Trading 4.1% Higher – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price was up 4.1% on Monday . The stock traded as high as $13.39 and last traded at $13.43. Approximately 157,561 shares traded hands during trading, a decline of 74% from the average daily volume of 594,659 shares. The stock had previously closed at $12.90.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RCUS shares. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target for the company. HC Wainwright reissued a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, Barclays upped their price target on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $32.67.

Arcus Biosciences Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The stock has a market cap of $1.24 billion, a P/E ratio of -4.31 and a beta of 0.84. The company has a 50-day simple moving average of $15.09 and a 200-day simple moving average of $15.83.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. During the same quarter in the prior year, the firm earned ($0.94) EPS. The company’s revenue was up 50.0% on a year-over-year basis. On average, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the sale, the chief financial officer now owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Arcus Biosciences during the 4th quarter worth about $26,000. Point72 Hong Kong Ltd acquired a new position in Arcus Biosciences during the third quarter valued at approximately $47,000. US Bancorp DE raised its holdings in Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares during the period. Quest Partners LLC boosted its position in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at $244,000. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.