Insider Buying: Arcus Biosciences, Inc. (NYSE:RCUS) Director Acquires 20,000 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) Director Yasunori Kaneko purchased 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.06 per share, with a total value of $201,200.00. Following the acquisition, the director now owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Arcus Biosciences Trading Down 2.7 %

Shares of Arcus Biosciences stock opened at $9.87 on Friday. The stock has a market cap of $1.04 billion, a PE ratio of -3.13 and a beta of 0.84. The firm has a fifty day moving average price of $13.46 and a 200 day moving average price of $15.42. Arcus Biosciences, Inc. has a 1 year low of $9.85 and a 1 year high of $20.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Gilead Sciences Inc. acquired a new position in shares of Arcus Biosciences in the 4th quarter valued at $447,610,000. FMR LLC grew its position in Arcus Biosciences by 6.9% during the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after buying an additional 286,766 shares during the period. Woodline Partners LP increased its holdings in Arcus Biosciences by 1.3% in the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock valued at $52,471,000 after buying an additional 45,497 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after acquiring an additional 603,222 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Arcus Biosciences by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after acquiring an additional 178,351 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RCUS shares. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. Bank of America lowered their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley reduced their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Company Profile

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.