Arcus Biosciences (NYSE:RCUS) Shares Up 4.1% – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price shot up 4.1% on Monday . The company traded as high as $13.39 and last traded at $13.43. 157,561 shares changed 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 Analysts Forecast Growth

Several brokerages recently issued reports on RCUS. Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. HC Wainwright restated a “neutral” rating and set 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 research report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Finally, Barclays increased their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.67.

Arcus Biosciences Stock Up 1.3 %

The firm’s 50-day moving average price is $15.17 and its 200-day moving average price is $15.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -4.16 and a beta of 0.87.

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. The firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.94) EPS. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds have recently bought and sold shares of RCUS. R Squared Ltd acquired a new stake in Arcus Biosciences during the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of Arcus Biosciences during the 3rd quarter valued at approximately $47,000. Quest Partners LLC raised its position in shares of Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 shares in the last quarter. Intech Investment Management LLC bought a new position in Arcus Biosciences during the third quarter worth $244,000. Finally, Martingale Asset Management L P acquired a new position in Arcus Biosciences in the third quarter worth $251,000. 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.