Arcus Biosciences (NYSE:RCUS) Trading 3.6% Higher – Still a Buy?

Arcus Biosciences, Inc. (NYSE:RCUS) traded up 3.6% during trading on Thursday . The stock traded as high as $9.45 and last traded at $9.42. 232,440 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 712,714 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America cut their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Finally, Morgan Stanley cut their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Arcus Biosciences currently has a consensus rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Price Performance

The company has a market cap of $951.81 million, a PE ratio of -2.87 and a beta of 1.36. The business’s 50 day moving average price is $11.89 and its 200-day moving average price is $14.72. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. The company had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. As a group, analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Activity

In related news, CEO Terry J. Rosen purchased 19,800 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.18 per share, with a total value of $201,564.00. Following the completion of the transaction, the chief executive officer now owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yasunori Kaneko purchased 20,000 shares of the firm’s 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 transaction, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Trading of Arcus Biosciences

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in shares of Arcus Biosciences by 59.8% during the third quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after buying an additional 81,193 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Arcus Biosciences by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after buying an additional 59,536 shares in the last quarter. Parkman Healthcare Partners LLC grew its position in shares of Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after buying an additional 610,219 shares in the last quarter. Barclays PLC grew its position in shares of Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after buying an additional 39,015 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares in the last quarter. 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.