Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) Director Yasunori Kaneko bought 20,000 shares of Arcus Biosciences stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.06 per share, with a total value of $201,200.00. Following the acquisition, the director now owns 28,400 shares of the company's stock, valued at $285,704. This trade represents a 238.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Arcus Biosciences Trading Down 3.3 %
Arcus Biosciences stock traded down $0.36 during trading on Monday, hitting $10.53. The company's stock had a trading volume of 1,116,764 shares, compared to its average volume of 705,183. The stock's fifty day moving average is $13.37 and its 200 day moving average is $15.40. Arcus Biosciences, Inc. has a 1-year low of $9.86 and a 1-year high of $19.69. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.34 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted 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. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. As a group, equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.
Hedge Funds Weigh In On Arcus Biosciences
A number of hedge funds have recently made changes to their positions in the stock. Gilead Sciences Inc. purchased a new position in shares of Arcus Biosciences in the 4th quarter worth $447,610,000. Boxer Capital Management LLC purchased a new position in shares of Arcus Biosciences in the 4th quarter worth about $23,857,000. Braidwell LP acquired a new position in shares of Arcus Biosciences in the 4th quarter valued at about $11,943,000. Millennium Management LLC grew its holdings in shares of Arcus Biosciences by 277.1% during the 4th 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 period. Finally, Parkman Healthcare Partners LLC increased its position 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 worth $15,684,000 after purchasing an additional 610,219 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on RCUS. Morgan Stanley lowered their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Bank of America dropped their price target 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. Wedbush reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Arcus Biosciences has an average rating of "Buy" and an average target price of $30.25.
Check Out Our Latest Stock Report on Arcus Biosciences
About Arcus Biosciences
(
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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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