Arcus Biosciences (NYSE:RCUS) Stock Price Up 7.6%

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price traded up 7.6% on Wednesday . The company traded as high as $17.91 and last traded at $17.91. 169,546 shares changed hands during trading, a decline of 81% from the average session volume of 871,697 shares. The stock had previously closed at $16.65.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Arcus Biosciences in a report on Monday. Mizuho decreased their target price on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.25.

Arcus Biosciences Stock Up 3.8 %

The firm’s fifty day simple moving average is $17.10 and its 200 day simple moving average is $16.97.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.01. The company had revenue of $31.00 million during the quarter, compared to analysts’ expectations of $28.30 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company posted ($0.93) earnings per share. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.59 EPS for the current year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 2,004 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $20.00, for a total transaction of $40,080.00. Following the transaction, the chief financial officer now owns 51,831 shares in the company, valued at $1,036,620. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 2,004 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $20.00, for a total transaction of $40,080.00. Following the transaction, the chief financial officer now owns 51,831 shares in the company, valued at $1,036,620. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Juan C. Jaen sold 6,975 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $20.09, for a total value of $140,127.75. Following the transaction, the president now owns 1,215,265 shares in the company, valued at approximately $24,414,673.85. The disclosure for this sale can be found here. Insiders sold 50,883 shares of company stock valued at $992,267 over the last three months. 13.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of RCUS. MetLife Investment Management LLC grew its stake in shares of Arcus Biosciences by 57.4% in the first quarter. MetLife Investment Management LLC now owns 25,039 shares of the company’s stock worth $790,000 after acquiring an additional 9,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Arcus Biosciences by 77.0% during the first quarter. Dimensional Fund Advisors LP now owns 437,969 shares of the company’s stock worth $13,826,000 after buying an additional 190,527 shares in the last quarter. Vanguard Group Inc. boosted its stake in Arcus Biosciences by 2.5% during the first quarter. Vanguard Group Inc. now owns 3,512,114 shares of the company’s stock worth $110,843,000 after buying an additional 85,778 shares in the last quarter. Ergoteles LLC acquired a new stake in Arcus Biosciences during the first quarter worth $1,261,000. Finally, Lazard Asset Management LLC acquired a new stake in Arcus Biosciences during the first quarter worth $76,000. Institutional investors and hedge funds 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.