Arcus Biosciences (NYSE:RCUS) Trading Up 2.8% – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS) shares traded up 2.8% during trading on Wednesday . The stock traded as high as $24.00 and last traded at $23.8890. 138,968 shares were traded during trading, a decline of 88% from the average session volume of 1,206,120 shares. The stock had previously closed at $23.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Wedbush set a $35.00 target price on shares of Arcus Biosciences and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Bank of America upped their price objective on shares of Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Finally, Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.89.

Arcus Biosciences Price Performance

The stock has a market cap of $2.57 billion, a PE ratio of -6.92 and a beta of 0.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The business has a 50 day moving average price of $21.99 and a two-hundred day moving average price of $14.86.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The business had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same period last year, the company posted ($1.00) earnings per share. Arcus Biosciences’s quarterly revenue was down 45.8% compared to the same quarter last year. Research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, COO Jennifer Jarrett sold 9,983 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total value of $221,223.28. Following the transaction, the chief operating officer directly owned 193,024 shares of the company’s stock, valued at approximately $4,277,411.84. The trade was a 4.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alexander Azoy sold 4,343 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $22.25, for a total transaction of $96,631.75. Following the transaction, the chief accounting officer owned 18,531 shares of the company’s stock, valued at approximately $412,314.75. The trade was a 18.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 433,977 shares of company stock worth $9,202,205. 9.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently modified their holdings of RCUS. GAMMA Investing LLC lifted its stake in Arcus Biosciences by 59.1% in the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after purchasing an additional 1,021 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after buying an additional 2,845 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Arcus Biosciences during the 3rd quarter worth $69,000. CWM LLC grew its stake in shares of Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock worth $44,000 after acquiring an additional 3,810 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Arcus Biosciences by 34.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock worth $57,000 after acquiring an additional 1,796 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.