Arcus Biosciences (NYSE:RCUS) Shares Up 10.1% – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS) traded up 10.1% on Tuesday . The stock traded as high as $20.46 and last traded at $20.76. 297,539 shares traded hands during trading, a decline of 75% from the average session volume of 1,168,528 shares. The stock had previously closed at $18.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. Wells Fargo & Company set a $23.00 price objective on shares of Arcus Biosciences and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, January 21st. Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a report on Friday, December 12th. Finally, Wall Street Zen cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Arcus Biosciences Trading Up 7.9%

The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $21.73 and a two-hundred day simple moving average of $18.26. The firm has a market capitalization of $2.20 billion, a P/E ratio of -5.90 and a beta of 0.84.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 7,658 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $167,557.04. Following the transaction, the general counsel owned 131,544 shares of the company’s stock, valued at approximately $2,878,182.72. This trade represents a 5.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Terry J. Rosen sold 28,947 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total transaction of $633,360.36. Following the completion of the sale, the chief executive officer directly owned 2,220,553 shares of the company’s stock, valued at $48,585,699.64. The trade was a 1.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 265,887 shares of company stock valued at $6,075,020 in the last 90 days. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of large investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Arcus Biosciences in the 4th quarter worth $39,000. Invesco Ltd. raised its stake in Arcus Biosciences by 41.7% in the fourth quarter. Invesco Ltd. now owns 414,365 shares of the company’s stock valued at $9,874,000 after buying an additional 121,961 shares during the last quarter. State of Tennessee Department of Treasury boosted its holdings in Arcus Biosciences by 34.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,855 shares of the company’s stock worth $831,000 after acquiring an additional 8,886 shares in the last quarter. VestGen Advisors LLC acquired a new stake in Arcus Biosciences in the fourth quarter worth about $647,000. Finally, Wellington Management Group LLP raised its position in shares of Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after purchasing an additional 3,918,220 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.