Arcus Biosciences (NYSE:RCUS) Shares Gap Up Following Insider Buying Activity

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $9.88, but opened at $10.37. Arcus Biosciences shares last traded at $10.52, with a volume of 107,830 shares traded.

Specifically, CEO Terry J. Rosen bought 19,800 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the purchase, the chief executive officer now owns 2,554,160 shares in the company, valued at $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yasunori Kaneko bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the acquisition, the director now owns 28,400 shares in the company, valued at approximately $285,704. This trade represents a 238.10 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

RCUS has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.00 to $24.00 in a research note on Wednesday. Bank of America dropped their price target on shares of 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 reissued an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Trading Up 7.6 %

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 business’s 50 day moving average price is $13.46 and its 200-day moving average price is $15.42. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -3.38 and a beta of 0.84.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. Equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new stake in Arcus Biosciences during the fourth quarter worth about $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of Arcus Biosciences during the 3rd quarter worth approximately $47,000. Lazard Asset Management LLC lifted its holdings in shares of Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after purchasing an additional 6,078 shares during the last quarter. US Bancorp DE boosted its position in Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after purchasing an additional 6,615 shares during the period. Finally, Quest Partners LLC grew its stake in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after buying an additional 9,408 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.