Arcus Biosciences (NYSE:RCUS) Announces Earnings Results

Arcus Biosciences (NYSE:RCUS - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.17) by $0.14, Zacks reports. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million.

Arcus Biosciences Trading Up 10.2 %

NYSE:RCUS traded up $1.01 during mid-day trading on Friday, hitting $10.89. The company had a trading volume of 1,786,269 shares, compared to its average volume of 958,588. Arcus Biosciences has a fifty-two week low of $9.85 and a fifty-two week high of $20.00. The business's fifty day moving average is $13.37 and its two-hundred day moving average is $15.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The firm has a market cap of $1.14 billion, a P/E ratio of -3.46 and a beta of 0.84.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now owns 60,138 shares of the company's stock, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Terry J. Rosen purchased 19,800 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the transaction, the chief executive officer now owns 2,554,160 shares of the company's stock, valued at $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RCUS. HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their price target for the company from $18.00 to $24.00 in a research note on Wednesday. Morgan Stanley cut their price target 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. Bank of America cut their price target 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, Wedbush reaffirmed an "outperform" rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $30.25.

About Arcus Biosciences

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.