Arcus Biosciences (NYSE:RCUS) Shares Gap Up – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $21.30, but opened at $22.19. Arcus Biosciences shares last traded at $22.4330, with a volume of 1,292,918 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RCUS shares. Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a report on Friday, December 12th. Wells Fargo & Company raised their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Bank of America upped their price objective on Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Finally, UBS Group restated a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Arcus Biosciences Stock Performance

The company has a market cap of $2.35 billion, a P/E ratio of -6.33 and a beta of 0.77. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $22.82 and a two-hundred day simple moving average of $15.93.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm had revenue of $26.00 million during the quarter, compared to analyst estimates of $19.89 million. During the same quarter in the prior year, the firm earned ($1.00) EPS. The business’s revenue for the quarter was down 45.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 6,810 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total value of $150,909.60. Following the transaction, the general counsel directly owned 124,734 shares in the company, valued at approximately $2,764,105.44. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Juan C. Jaen sold 31,823 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.41, for a total transaction of $681,330.43. Following the sale, the president directly owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. The trade was a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 422,060 shares of company stock valued at $9,286,202 in the last quarter. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Arcus Biosciences by 59.1% in the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after acquiring an additional 1,021 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after purchasing an additional 2,845 shares during the period. CWM LLC lifted its holdings in 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 in the last quarter. Ameritas Investment Partners Inc. boosted its stake in 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. Finally, PNC Financial Services Group Inc. boosted its stake in 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. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.