Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $9.34, but opened at $9.14. Arcus Biosciences shares last traded at $9.11, with a volume of 32,631 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Bank of America dropped their price objective on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley lowered their price target on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Arcus Biosciences has a consensus rating of "Buy" and a consensus price target of $30.25.
Check Out Our Latest Stock Report on RCUS
Arcus Biosciences Price Performance
The stock has a market capitalization of $940.46 million, a P/E ratio of -2.84 and a beta of 1.36. 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 50-day moving average price of $11.77 and a 200 day moving average price of $14.68.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts' consensus estimates of ($1.17) by $0.14. The business 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 expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current 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 transaction of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the purchase, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.
Institutional Investors Weigh In On Arcus Biosciences
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilead Sciences Inc. bought a new stake in Arcus Biosciences in the 4th quarter worth $447,610,000. Boxer Capital Management LLC purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth about $23,857,000. Braidwell LP purchased a new stake in shares of Arcus Biosciences during the fourth quarter worth about $11,943,000. Millennium Management LLC grew its stake in shares of Arcus Biosciences by 277.1% in the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company's stock worth $13,764,000 after purchasing an additional 679,267 shares during the last quarter. Finally, Parkman Healthcare Partners LLC increased its holdings in Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company's stock valued at $15,684,000 after purchasing an additional 610,219 shares during the period. 92.89% of the stock is currently owned by institutional investors.
About Arcus Biosciences
(
Get Free Report)
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.
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