Arcus Biosciences (NYSE:RCUS) Shares Up 13.3%

Arcus Biosciences, Inc. (NYSE:RCUSGet Rating)’s share price shot up 13.3% during mid-day trading on Tuesday . The company traded as high as $25.66 and last traded at $24.36. 15,266 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 957,559 shares. The stock had previously closed at $21.50.

A number of research firms recently issued reports on RCUS. TheStreet raised Arcus Biosciences from a “d” rating to a “c” rating in a report on Monday, March 21st. The Goldman Sachs Group cut their price target on Arcus Biosciences from $45.00 to $43.00 in a report on Thursday, January 13th. Zacks Investment Research cut Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Friday, April 1st. Finally, Truist Financial boosted their price objective on Arcus Biosciences from $70.00 to $77.00 in a report on Friday, February 25th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $64.43.

The stock has a market capitalization of $1.66 billion, a P/E ratio of 57.70 and a beta of 1.00. The company has a fifty day simple moving average of $31.45 and a two-hundred day simple moving average of $35.23.

Arcus Biosciences (NYSE:RCUSGet Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($1.79). Arcus Biosciences had a return on equity of 7.96% and a net margin of 13.80%. During the same period last year, the business earned ($1.08) EPS. On average, equities research analysts expect that Arcus Biosciences, Inc. will post -2.07 earnings per share for the current year.

In other news, COO Jennifer Jarrett sold 9,617 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $31.62, for a total transaction of $304,089.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.30% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of RCUS. Swiss National Bank grew its position in shares of Arcus Biosciences by 5.5% in the 1st quarter. Swiss National Bank now owns 91,296 shares of the company’s stock valued at $2,881,000 after purchasing an additional 4,800 shares during the period. Teacher Retirement System of Texas grew its position in shares of Arcus Biosciences by 8.0% in the 1st quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock valued at $251,000 after purchasing an additional 590 shares during the period. New York State Common Retirement Fund grew its position in shares of Arcus Biosciences by 28.7% in the 1st quarter. New York State Common Retirement Fund now owns 42,045 shares of the company’s stock valued at $1,327,000 after purchasing an additional 9,375 shares during the period. Victory Capital Management Inc. grew its position in shares of Arcus Biosciences by 151.7% in the 1st quarter. Victory Capital Management Inc. now owns 17,231 shares of the company’s stock valued at $417,000 after purchasing an additional 10,384 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Arcus Biosciences by 263.8% in the 1st quarter. SG Americas Securities LLC now owns 94,186 shares of the company’s stock valued at $2,973,000 after purchasing an additional 68,297 shares during the period. Institutional investors own 73.54% of the company’s stock.

About Arcus Biosciences (NYSE:RCUS)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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