Arcus Biosciences, Inc. (NYSE:RCUS) Director Yasunori Kaneko Buys 20,000 Shares

Arcus Biosciences, Inc. (NYSE:RCUS) Director Yasunori Kaneko purchased 20,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the acquisition, the director now owns 28,400 shares of the company’s stock, valued at $285,704. This trade represents a 238.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arcus Biosciences Trading Up 10.2 %

RCUS opened at $10.89 on Friday. Arcus Biosciences, Inc. has a 1-year low of $9.85 and a 1-year high of $20.00. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.14 billion, a P/E ratio of -3.46 and a beta of 0.84. The company has a fifty day moving average price of $13.37 and a two-hundred day moving average price of $15.40.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating 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 firm had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. Analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Analyst Ratings Changes

RCUS has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.00 to $24.00 in a report on Wednesday. Bank of America dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley dropped 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 research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Arcus Biosciences during the fourth quarter worth about $26,000. Point72 Hong Kong Ltd bought a new stake in shares of Arcus Biosciences during the third quarter worth about $47,000. Lazard Asset Management LLC increased its position in shares of Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after acquiring an additional 6,078 shares in the last quarter. US Bancorp DE increased its position in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after acquiring an additional 9,408 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.