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

Arcus Biosciences, Inc. (NYSE:RCUS) shot up 4.1% during mid-day trading on Monday . The company traded as high as $13.39 and last traded at $13.43. 157,561 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 594,659 shares. The stock had previously closed at $12.90.

Wall Street Analyst Weigh In

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

Arcus Biosciences Stock Up 1.2 %

The stock has a market cap of $1.24 billion, a P/E ratio of -4.31 and a beta of 0.84. The firm has a 50 day simple moving average of $15.09 and a 200-day simple moving average of $15.83. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. During the same quarter last year, the firm posted ($0.94) EPS. The company’s quarterly revenue was up 50.0% on a year-over-year basis. On average, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Transactions at Arcus Biosciences

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

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in RCUS. US Bancorp DE grew its position in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after buying an additional 6,615 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Arcus Biosciences by 8.6% during the 4th quarter. Bank of New York Mellon Corp now owns 381,615 shares of the company’s stock worth $5,682,000 after purchasing an additional 30,290 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock worth $369,000 after purchasing an additional 2,500 shares during the period. Principal Financial Group Inc. raised its stake in Arcus Biosciences by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 263,517 shares of the company’s stock valued at $3,924,000 after purchasing an additional 7,906 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Arcus Biosciences during the fourth quarter worth about $26,000. 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.