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

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) gapped up before the market opened 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 trading hands.

Specifically, CEO Terry J. Rosen bought 19,800 shares of Arcus Biosciences stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.18 per share, with a total value of $201,564.00. Following 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 trade represents a 0.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yasunori Kaneko purchased 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at $285,704. This trade represents a 238.10 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

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

Arcus Biosciences Trading Up 7.6 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The business has a fifty day moving average of $13.46 and a 200-day moving average of $15.42. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.38 and a beta of 0.84.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $36.00 million for the quarter, compared to analysts’ expectations of $29.38 million. On average, equities analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP grew its holdings in shares of Arcus Biosciences by 17.8% in the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock worth $2,866,000 after acquiring an additional 28,307 shares during the last quarter. Quest Partners LLC increased its stake in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Arcus Biosciences by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares during the period. Intech Investment Management LLC purchased a new stake in Arcus Biosciences during the third quarter valued at about $244,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Arcus Biosciences by 39.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock worth $1,237,000 after buying an additional 22,716 shares during the period. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.