Arcus Biosciences (NYSE:RCUS) Trading Up 3.6% – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price traded up 3.6% during mid-day trading on Thursday . The stock traded as high as $9.45 and last traded at $9.42. 232,440 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 712,714 shares. The stock had previously closed at $9.09.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America lowered their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley lowered their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Trading Down 1.4 %

The company’s 50-day moving average is $11.66 and its 200-day moving average is $14.62. The firm has a market cap of $940.46 million, a price-to-earnings ratio of -2.84 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Terry J. Rosen bought 19,800 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the transaction, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RCUS. Quest Partners LLC lifted its position in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after purchasing an additional 9,408 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Arcus Biosciences by 25.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock valued at $14,236,000 after acquiring an additional 186,750 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Arcus Biosciences in the 3rd quarter valued at approximately $244,000. Massachusetts Financial Services Co. MA raised its position in shares of Arcus Biosciences by 39.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock valued at $1,237,000 after acquiring an additional 22,716 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Arcus Biosciences by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after acquiring an additional 59,536 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.