Arcus Biosciences (NYSE:RCUS) Stock Price Up 7.3%

Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) shares rose 7.3% during trading on Friday . The company traded as high as $19.97 and last traded at $19.93. Approximately 12,183 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,554,913 shares. The stock had previously closed at $18.58.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research note on Wednesday, September 21st. Morgan Stanley initiated coverage on Arcus Biosciences in a report on Tuesday, October 11th. They issued an “overweight” rating and a $40.00 price target for the company. Citigroup upped their price target on Arcus Biosciences from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 20th. Barclays reduced their price target on Arcus Biosciences from $60.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, December 21st. Finally, SVB Leerink reduced their price target on Arcus Biosciences from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $40.38.

Arcus Biosciences Price Performance

The business has a fifty day simple moving average of $25.99 and a 200 day simple moving average of $26.34. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 22.15 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUSGet Rating) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.15. Arcus Biosciences had a return on equity of 10.35% and a net margin of 18.44%. The business had revenue of $33.58 million during the quarter, compared to analysts’ expectations of $18.26 million. On average, research analysts anticipate that Arcus Biosciences, Inc. will post -3.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 2,523 shares of the stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $30.75, for a total transaction of $77,582.25. Following the completion of the transaction, the general counsel now owns 28,584 shares of the company’s stock, valued at $878,958. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Terry J. Rosen sold 13,043 shares of the stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $30.75, for a total value of $401,072.25. Following the completion of the sale, the chief executive officer now owns 242,173 shares of the company’s stock, valued at $7,446,819.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Carolyn C. Tang sold 2,523 shares of the stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $30.75, for a total value of $77,582.25. Following the completion of the sale, the general counsel now directly owns 28,584 shares of the company’s stock, valued at approximately $878,958. The disclosure for this sale can be found here. Insiders sold 38,937 shares of company stock valued at $1,197,313 over the last quarter. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Arcus Biosciences by 9.9% in the third quarter. BlackRock Inc. now owns 8,928,228 shares of the company’s stock valued at $233,559,000 after purchasing an additional 805,534 shares during the last quarter. Vanguard Group Inc. grew its position in Arcus Biosciences by 4.1% in the third quarter. Vanguard Group Inc. now owns 4,457,184 shares of the company’s stock worth $116,600,000 after acquiring an additional 173,854 shares during the period. State Street Corp grew its position in Arcus Biosciences by 61.3% in the second quarter. State Street Corp now owns 4,435,849 shares of the company’s stock worth $112,404,000 after acquiring an additional 1,685,930 shares during the period. PFM Health Sciences LP grew its position in Arcus Biosciences by 1.1% in the third quarter. PFM Health Sciences LP now owns 3,383,233 shares of the company’s stock worth $88,505,000 after acquiring an additional 36,775 shares during the period. Finally, Pictet Asset Management SA grew its position in Arcus Biosciences by 23.0% in the second quarter. Pictet Asset Management SA now owns 1,912,551 shares of the company’s stock worth $48,464,000 after acquiring an additional 357,539 shares during the period. Institutional investors and hedge funds own 72.97% of the company’s stock.

Arcus Biosciences Company Profile

(Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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