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

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price gapped up prior to trading on Friday after an insider bought additional shares in the company. 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 firm’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the purchase, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the transaction, the director now directly owns 28,400 shares in the company, valued at $285,704. This trade represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America lowered their target price on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $24.00 in a research note on Wednesday. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Price Performance

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

Arcus Biosciences (NYSE:RCUS) last issued its earnings results 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 company 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%. As a group, equities analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently bought and sold shares of the company. Woodline Partners LP raised its stake in shares of Arcus Biosciences by 1.3% during the 4th quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after buying an additional 45,497 shares during the last quarter. Two Sigma Advisers LP grew its stake in Arcus Biosciences by 35.8% in the 4th quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock valued at $876,000 after acquiring an additional 15,500 shares during the last quarter. Two Sigma Investments LP increased its holdings in Arcus Biosciences by 8.1% during the 4th quarter. Two Sigma Investments LP now owns 146,686 shares of the company’s stock valued at $2,184,000 after acquiring an additional 11,027 shares in the last quarter. Tema Etfs LLC acquired a new position in Arcus Biosciences during the fourth quarter worth about $331,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Arcus Biosciences by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 16,379 shares of the company’s stock valued at $244,000 after purchasing an additional 5,038 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.