Arcus Biosciences (NYSE:RCUS) Stock Price Up 7.6%

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) rose 7.6% during mid-day trading on Wednesday . The stock traded as high as $17.91 and last traded at $17.91. Approximately 169,546 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 871,697 shares. The stock had previously closed at $16.65.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Thursday, February 22nd. Mizuho dropped their target price on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Truist Financial restated a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a research report on Monday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Arcus Biosciences Trading Up 3.8 %

The business has a 50-day moving average price of $17.10 and a 200-day moving average price of $16.97.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.01. The business had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. Arcus Biosciences had a negative return on equity of 57.17% and a negative net margin of 262.39%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.93) earnings per share. Equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.59 EPS for the current year.

Insider Transactions at Arcus Biosciences

In related news, President Juan C. Jaen sold 6,975 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.09, for a total value of $140,127.75. Following the transaction, the president now directly owns 1,215,265 shares of the company’s stock, valued at approximately $24,414,673.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Arcus Biosciences news, President Juan C. Jaen sold 6,975 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $20.09, for a total value of $140,127.75. Following the sale, the president now directly owns 1,215,265 shares of the company’s stock, valued at $24,414,673.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert C. Goeltz II sold 2,004 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $20.00, for a total transaction of $40,080.00. Following the completion of the sale, the chief financial officer now directly owns 51,831 shares in the company, valued at $1,036,620. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,883 shares of company stock valued at $992,267. Corporate insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently modified their holdings of the company. BluePath Capital Management LLC acquired a new position in shares of Arcus Biosciences during the 3rd quarter worth about $28,000. GAMMA Investing LLC acquired a new position in shares of Arcus Biosciences during the 4th quarter worth about $31,000. Osaic Holdings Inc. raised its position in shares of Arcus Biosciences by 51.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,620 shares of the company’s stock worth $34,000 after purchasing an additional 550 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Arcus Biosciences during the 3rd quarter worth about $36,000. Finally, Strs Ohio acquired a new position in shares of Arcus Biosciences during the 3rd quarter worth about $43,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.