Arcus Biosciences (NYSE:RCUS) Trading Down 2.8%

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares traded down 2.8% during mid-day trading on Wednesday . The company traded as low as $17.14 and last traded at $17.23. 14,247 shares changed hands during trading, a decline of 98% from the average session volume of 864,610 shares. The stock had previously closed at $17.72.

Analysts Set New Price Targets

RCUS has been the topic of a number of recent research reports. Truist Financial reissued a "buy" rating and set a $50.00 target price on shares of Arcus Biosciences in a research report on Monday, March 25th. Wedbush reiterated an "outperform" rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday, February 22nd. Finally, Mizuho lowered their target price on Arcus Biosciences from $51.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.25.

Arcus Biosciences Stock Performance

The business has a fifty day moving average of $17.34 and a 200-day moving average of $16.87. The firm has a market capitalization of $1.61 billion, a P/E ratio of -4.26 and a beta of 0.81.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share (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 return on equity of 57.17% and a negative net margin of 262.39%. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.93) earnings per share. On average, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, President Juan C. Jaen sold 3,900 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.06, for a total value of $78,234.00. Following the completion of the sale, the president now directly owns 1,211,365 shares in the company, valued at $24,299,981.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcus Biosciences news, COO Jennifer Jarrett sold 11,551 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total value of $202,720.05. Following the transaction, the chief operating officer now owns 215,253 shares in the company, valued at $3,777,690.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Juan C. Jaen sold 3,900 shares of the business's stock in a transaction on Monday, February 26th. The stock was 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 in the company, valued at $24,299,981.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,455 shares of company stock worth $1,014,779. 13.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC purchased a new stake in Arcus Biosciences during the third quarter valued at about $28,000. GAMMA Investing LLC purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at approximately $31,000. Osaic Holdings Inc. boosted its stake in Arcus Biosciences by 51.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,620 shares of the company's stock worth $34,000 after purchasing an additional 550 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Arcus Biosciences during the 3rd quarter worth approximately $36,000. Finally, Strs Ohio purchased a new position in Arcus Biosciences during the 3rd quarter worth approximately $43,000. 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.