Arcus Biosciences (NYSE:RCUS) Shares Up 3.6% - What's Next?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price shot 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 changed hands during trading, a decline of 67% from the average daily volume of 712,714 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

A number of research analysts have recently commented on RCUS shares. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their target price for the stock from $18.00 to $24.00 in a report on Wednesday, February 26th. Bank of America dropped their target price on 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 reduced 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. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $30.25.

Arcus Biosciences Stock Performance

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 capitalization of $961.49 million, a price-to-earnings ratio of -2.90 and a beta of 1.36. The company's 50-day moving average price is $11.66 and its two-hundred day moving average price is $14.60.

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Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping 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 return on equity of 45.59% and a negative net margin of 102.66%. On average, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yasunori Kaneko bought 20,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the completion of the transaction, the director now directly owns 28,400 shares of the company's stock, valued at $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The shares were 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 of the company's stock, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Arcus Biosciences during the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd bought a new position in Arcus Biosciences during the 3rd quarter valued at $47,000. Lazard Asset Management LLC boosted 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 acquiring an additional 6,078 shares during the last quarter. US Bancorp DE grew its stake in shares of Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock worth $103,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company's stock valued at $144,000 after purchasing an additional 9,408 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

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.