Arcus Biosciences (RCUS) Issues Earnings Results

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Arcus Biosciences (NYSE:RCUS) announced its earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.13, Fidelity Earnings reports. The company had revenue of $4.29 million for the quarter, compared to analysts’ expectations of $1.40 million.

NYSE:RCUS opened at $12.26 on Friday. Arcus Biosciences has a one year low of $9.50 and a one year high of $22.10.

In related news, CEO Terry J. Rosen acquired 28,401 shares of Arcus Biosciences stock in a transaction dated Thursday, August 16th. The stock was purchased at an average cost of $12.64 per share, for a total transaction of $358,988.64. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Terry J. Rosen acquired 9,929 shares of Arcus Biosciences stock in a transaction dated Monday, August 13th. The stock was bought at an average price of $11.87 per share, with a total value of $117,857.23. The disclosure for this purchase can be found here. Insiders bought a total of 85,117 shares of company stock valued at $1,118,707 over the last 90 days.

An institutional investor recently bought a new position in Arcus Biosciences stock. Bank of New York Mellon Corp bought a new position in Arcus Biosciences Inc (NYSE:RCUS) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,047 shares of the company’s stock, valued at approximately $196,000. 39.01% of the stock is currently owned by institutional investors.

RCUS has been the subject of a number of research reports. Wedbush initiated coverage on shares of Arcus Biosciences in a research note on Tuesday, October 9th. They set an “outperform” rating and a $22.00 target price for the company. Zacks Investment Research lowered Arcus Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.60.

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Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.

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