Arcus Biosciences (NYSE:RCUS) Trading 3.6% Higher – Still a Buy?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price was up 3.6% during trading on Thursday . The company traded as high as $9.45 and last traded at $9.42. Approximately 232,440 shares traded hands during trading, a decline of 67% from the average daily volume of 712,714 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RCUS shares. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Bank of America cut their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley cut their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One 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 MarketBeat.com, Arcus Biosciences presently has an average rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Stock Performance

The stock has a market capitalization of $951.81 million, a price-to-earnings ratio of -2.87 and a beta of 1.36. The stock’s 50 day moving average is $11.89 and its 200 day moving average is $14.72. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. The firm had revenue of $36.00 million for the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. On average, analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Terry J. Rosen purchased 19,800 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost 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 in the company, valued at $26,001,348.80. The trade was a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC boosted its stake in shares of Arcus Biosciences by 59.8% during the 3rd quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after purchasing an additional 81,193 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after purchasing an additional 59,536 shares during the last quarter. Parkman Healthcare Partners LLC boosted its stake in shares of Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after purchasing an additional 610,219 shares during the last quarter. Barclays PLC boosted its stake in shares of Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after purchasing an additional 39,015 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Arcus Biosciences by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after acquiring an additional 186,750 shares during the last quarter. 92.89% of the stock is 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.