Arcus Biosciences (NYSE:RCUS) Shares Gap Up on Insider Buying Activity

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $9.88, but opened at $10.37. Arcus Biosciences shares last traded at $10.52, with a volume of 107,830 shares changing hands.

Specifically, CEO Terry J. Rosen bought 19,800 shares of the stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at approximately $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Yasunori Kaneko bought 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, with a total value of $201,200.00. Following the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at $285,704. The trade was a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RCUS shares. Wedbush reissued an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $24.00 in a report on Wednesday. Finally, 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 report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Price Performance

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.46 and a beta of 0.84. The business’s fifty day moving average price is $13.37 and its 200-day moving average price is $15.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last issued 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 firm had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Gilead Sciences Inc. acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at about $447,610,000. FMR LLC boosted its holdings in Arcus Biosciences by 6.9% during the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after purchasing an additional 286,766 shares during the last quarter. Woodline Partners LP boosted its holdings in Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after purchasing an additional 45,497 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after purchasing an additional 603,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Arcus Biosciences by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after purchasing an additional 178,351 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.