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

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

Wall Street Analysts Forecast Growth

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

Arcus Biosciences Stock Performance

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

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

Insider Activity

In related news, CEO Terry J. Rosen bought 19,800 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yasunori Kaneko bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.06 per share, with a total value of $201,200.00. Following the completion of the purchase, the director now owns 28,400 shares in the company, valued at approximately $285,704. The trade was a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in Arcus Biosciences during the 4th quarter valued at $26,000. Point72 Hong Kong Ltd bought a new stake in Arcus Biosciences in the 3rd quarter valued at $47,000. Lazard Asset Management LLC increased its holdings in Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after buying an additional 6,078 shares during the period. US Bancorp DE increased its holdings in Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after buying an additional 6,615 shares during the period. Finally, Quest Partners LLC increased its holdings in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after buying an additional 9,408 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.