Arcus Biosciences (NYSE:RCUS) Shares Gap Up - Time to Buy?

Key Points

• Arcus Biosciences shares gapped up at market open, rising from a previous close of $14.60 to $15.80, with the latest trading at $15.19.
• The stock has a consensus rating of Moderate Buy among analysts, with a target price of $23.38; most recent ratings vary from a "sell" to multiple "buy" recommendations.
• Arcus reported significant revenue growth of 310.3% year-over-year, with a quarterly revenue of $160 million against an expected $32.86 million, despite an EPS loss of ($1.11).

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $14.60, but opened at $15.80. Arcus Biosciences shares last traded at $15.19, with a volume of 301,319 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on RCUS shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company reduced their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Truist Financial reaffirmed a "buy" rating and issued a $39.00 target price (up from $32.00) on shares of Arcus Biosciences in a research report on Tuesday, October 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of Arcus Biosciences in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.38.

Arcus Biosciences Stock Up 8.8%

The company's 50-day moving average is $11.55 and its 200 day moving average is $9.68. The company has a market capitalization of $1.69 billion, a PE ratio of -5.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.03. The company had revenue of $160.00 million for the quarter, compared to the consensus estimate of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. Arcus Biosciences's revenue for the quarter was up 310.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.02) EPS. As a group, analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Activity

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,831 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $13.00, for a total transaction of $36,803.00. Following the transaction, the chief accounting officer owned 27,363 shares in the company, valued at approximately $355,719. This represents a 9.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Jarrett sold 37,792 shares of the company's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total transaction of $568,769.60. Following the transaction, the chief operating officer owned 214,232 shares in the company, valued at $3,224,191.60. This represents a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,702 shares of company stock worth $806,081 in the last 90 days. Company insiders own 9.60% of the company's stock.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors have recently made changes to their positions in RCUS. GAMMA Investing LLC lifted its stake in shares of Arcus Biosciences by 59.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company's stock worth $37,000 after purchasing an additional 1,021 shares during the period. CWM LLC lifted its stake in shares of Arcus Biosciences by 233.6% in the 2nd quarter. CWM LLC now owns 5,441 shares of the company's stock worth $44,000 after purchasing an additional 3,810 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Arcus Biosciences by 34.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company's stock worth $57,000 after purchasing an additional 1,796 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Arcus Biosciences by 440.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock worth $62,000 after purchasing an additional 6,191 shares during the period. Finally, Strs Ohio bought a new position in shares of Arcus Biosciences in the 1st quarter worth approximately $67,000. Institutional investors own 92.89% of the company's stock.

About Arcus Biosciences

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.

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