Arcus Biosciences (NYSE:RCUS) Announces Quarterly Earnings Results

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

Arcus Biosciences Trading Up 6.4 %

RCUS stock traded up $0.97 during trading on Thursday, hitting $16.23. 407,678 shares of the stock traded hands, compared to its average volume of 767,489. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -4.06 and a beta of 0.91. The company has a 50 day simple moving average of $17.01 and a 200 day simple moving average of $16.58. Arcus Biosciences has a one year low of $12.95 and a one year high of $25.47.

Analyst Ratings Changes

Several brokerages have commented on RCUS. Truist Financial reiterated a “buy” rating and set a $50.00 price target on shares of Arcus Biosciences in a report on Monday, March 25th. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a report on Thursday. Finally, Mizuho lowered their price target on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Insiders Place Their Bets

In related 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 value of $78,234.00. Following the completion of the sale, the president now owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Jennifer Jarrett sold 24,555 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.07, for a total transaction of $492,818.85. Following the sale, the chief operating officer now owns 274,323 shares of the company’s stock, valued at $5,505,662.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Juan C. Jaen sold 3,900 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was 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 in the company, valued at $24,299,981.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,455 shares of company stock valued at $1,014,779. 12.30% of the stock is currently owned by corporate insiders.

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.