Arcus Biosciences (NYSE:RCUS) Releases Quarterly Earnings Results

Arcus Biosciences (NYSE:RCUS) released its quarterly earnings results on Wednesday. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.92, Briefing.com reports. The business had revenue of $145.00 million during the quarter, compared to analyst estimates of $28.77 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The company’s quarterly revenue was up 480.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.09) earnings per share.

Arcus Biosciences Price Performance

NYSE:RCUS traded up $1.05 during midday trading on Thursday, hitting $16.31. The company’s stock had a trading volume of 387,625 shares, compared to its average volume of 767,254. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $25.47. The firm’s 50 day moving average is $17.01 and its 200-day moving average is $16.58. The firm has a market cap of $1.48 billion, a P/E ratio of -4.06 and a beta of 0.91.

Insider Buying and Selling

In other news, President Juan C. Jaen sold 3,900 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.06, for a total transaction of $78,234.00. Following the sale, the president now owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Jennifer Jarrett sold 13,449 shares of Arcus Biosciences stock in a transaction on Monday, March 18th. The shares were sold at an average price of $17.92, for a total value of $241,006.08. Following the sale, the chief operating officer now owns 226,804 shares of the company’s stock, valued at approximately $4,064,327.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.06, for a total transaction of $78,234.00. Following the completion of the sale, the president now directly owns 1,211,365 shares in the company, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,455 shares of company stock worth $1,014,779. 12.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

RCUS has been the subject of several analyst reports. Mizuho decreased their price target on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

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.