Arcus Biosciences (NYSE:RCUS) Trading Up 6.4% After Insider Buying Activity

Arcus Biosciences Inc (NYSE:RCUS) was up 6.4% during trading on Wednesday following insider buying activity. The company traded as high as $8.53 and last traded at $8.29. Approximately 239,500 shares were traded during mid-day trading, an increase of 103% from the average daily volume of 118,082 shares. The stock had previously closed at $7.79.

Specifically, CEO Terry J. Rosen purchased 41,540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average price of $7.91 per share, for a total transaction of $328,581.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Terry J. Rosen purchased 21,738 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average price of $7.93 per share, for a total transaction of $172,382.34. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 105,343 shares of company stock valued at $842,228. Company insiders own 19.23% of the company’s stock.

A number of equities research analysts recently weighed in on RCUS shares. Citigroup restated a “buy” rating and issued a $25.00 price target on shares of Arcus Biosciences in a report on Friday, May 24th. BTIG Research started coverage on Arcus Biosciences in a report on Monday, March 18th. They issued a “buy” rating and a $20.00 price target on the stock. Svb Leerink restated an “outperform” rating on shares of Arcus Biosciences in a report on Friday, May 3rd. Finally, Zacks Investment Research upgraded Arcus Biosciences from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Arcus Biosciences currently has a consensus rating of “Buy” and an average target price of $17.50.

The firm has a market capitalization of $358.95 million, a price-to-earnings ratio of -5.87 and a beta of 1.21.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). The firm had revenue of $1.75 million during the quarter, compared to analyst estimates of $1.25 million. Arcus Biosciences had a negative return on equity of 22.72% and a negative net margin of 613.46%. As a group, analysts forecast that Arcus Biosciences Inc will post -1.64 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the business. BVF Inc. IL grew its holdings in Arcus Biosciences by 16.5% during the 1st quarter. BVF Inc. IL now owns 2,810,223 shares of the company’s stock valued at $35,100,000 after buying an additional 398,600 shares during the last quarter. Geode Capital Management LLC grew its holdings in Arcus Biosciences by 12.0% during the 1st quarter. Geode Capital Management LLC now owns 202,995 shares of the company’s stock valued at $2,535,000 after buying an additional 21,823 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Arcus Biosciences by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 98,736 shares of the company’s stock valued at $1,234,000 after buying an additional 4,897 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Arcus Biosciences during the first quarter worth $204,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Arcus Biosciences during the first quarter worth $149,000. Hedge funds and other institutional investors own 46.58% of the company’s stock.

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Arcus Biosciences Company Profile (NYSE:RCUS)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

Further Reading: Certificate of Deposit (CD)

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