Arcus Biosciences, Inc. (NYSE:RCUS) Director Purchases $201,200.00 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) Director Yasunori Kaneko bought 20,000 shares of Arcus Biosciences stock in a transaction dated 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 completion of the acquisition, the director now owns 28,400 shares of the company’s stock, valued at $285,704. This represents a 238.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $10.89 on Friday. The company has a 50-day moving average price of $13.37 and a two-hundred day moving average price of $15.40. Arcus Biosciences, Inc. has a twelve month low of $9.85 and a twelve month high of $20.00. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.14 billion, a PE ratio of -3.46 and a beta of 0.84.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate 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. Equities analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RCUS shares. Morgan Stanley reduced their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Bank of America reduced their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.00 to $24.00 in a research note on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.25.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently made changes to their positions in the stock. Gilead Sciences Inc. purchased a new stake in Arcus Biosciences during the 4th quarter worth about $447,610,000. Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at about $23,857,000. Braidwell LP purchased a new stake in shares of Arcus Biosciences in the fourth quarter worth about $11,943,000. Millennium Management LLC boosted its position in shares of Arcus Biosciences by 277.1% in the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock valued at $13,764,000 after acquiring an additional 679,267 shares during the period. Finally, Parkman Healthcare Partners LLC boosted its position in shares of Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after acquiring an additional 610,219 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.