Arcus Biosciences (NYSE:RCUS) Issues Earnings Results

Arcus Biosciences (NYSE:RCUS - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.92, Briefing.com reports. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $28.77 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The firm's quarterly revenue was up 480.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.09) earnings per share.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS traded up $0.89 during mid-day trading on Thursday, reaching $16.15. The company had a trading volume of 967,201 shares, compared to its average volume of 773,900. The stock has a fifty day moving average of $17.01 and a two-hundred day moving average of $16.58. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $25.47. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.89 and a beta of 0.91.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial reaffirmed a "buy" rating and set a $50.00 target price on shares of Arcus Biosciences in a research report on Monday, March 25th. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday. Finally, Mizuho dropped their target price on shares of Arcus Biosciences from $51.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.25.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, COO Jennifer Jarrett sold 24,555 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.07, for a total value of $492,818.85. Following the completion of the sale, the chief operating officer now owns 274,323 shares in the company, valued at approximately $5,505,662.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Jennifer Jarrett sold 24,555 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.07, for a total value of $492,818.85. Following the transaction, the chief operating officer now directly owns 274,323 shares of the company's stock, valued at $5,505,662.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the sale, the president now directly owns 1,211,365 shares of the company's stock, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,455 shares of company stock valued at $1,014,779. Corporate insiders own 12.30% 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.