Arcus Biosciences (NYSE:RCUS) Issues Earnings Results

Arcus Biosciences (NYSE:RCUS) announced its quarterly earnings results on Tuesday. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.17) by $0.14, Zacks reports. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%.

Arcus Biosciences Trading Up 0.9 %

Shares of NYSE RCUS traded up $0.10 during midday trading on Tuesday, hitting $10.26. 1,159,691 shares of the company traded hands, compared to its average volume of 910,925. 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 has a 12-month low of $10.01 and a 12-month high of $20.31. The stock has a 50-day moving average price of $13.79 and a 200 day moving average price of $15.54. The firm has a market cap of $1.08 billion, a P/E ratio of -3.26 and a beta of 0.84.

Analysts Set New Price Targets

A number of research firms recently weighed in on RCUS. Morgan Stanley decreased 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. Bank of America decreased their price target 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. HC Wainwright dropped their price objective on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 12.30% 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.