Insider Buying: Arcus Biosciences, Inc. (NYSE:RCUS) CEO Buys 19,800 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the purchase, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at approximately $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arcus Biosciences Stock Up 10.2 %

Shares of RCUS opened at $10.89 on Friday. The company has a market capitalization of $1.14 billion, a P/E ratio of -3.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences, Inc. has a one year low of $9.85 and a one year high of $20.00. The business’s 50 day simple moving average is $13.37 and its 200-day simple moving average is $15.40.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. As a group, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RCUS. R Squared Ltd acquired a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd acquired a new position in Arcus Biosciences during the 3rd quarter worth $47,000. Lazard Asset Management LLC lifted its holdings in Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after buying an additional 6,078 shares in the last quarter. US Bancorp DE lifted its holdings in Arcus Biosciences by 2,432.0% during the 4th 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. Finally, Quest Partners LLC lifted its holdings in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after buying an additional 9,408 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RCUS shares. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. Bank of America lowered their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley lowered their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $30.25.

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.