Arcus Biosciences (NYSE:RCUS) Issues Earnings Results

Arcus Biosciences (NYSE:RCUS) released its quarterly earnings results on Wednesday. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11), FiscalAI reports. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The firm had revenue of $9.00 million for the quarter, compared to analysts’ expectations of $7.58 million.

Arcus Biosciences Trading Up 2.2%

Shares of RCUS traded up $0.41 during mid-day trading on Wednesday, hitting $19.32. 2,076,185 shares of the company’s stock traded hands, compared to its average volume of 1,422,477. The business’s 50-day moving average price is $24.50 and its 200-day moving average price is $24.59. Arcus Biosciences has a 1 year low of $17.43 and a 1 year high of $31.74. The firm has a market capitalization of $2.46 billion, a P/E ratio of -4.95 and a beta of 1.04. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. The trade was a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on RCUS. Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. JPMorgan Chase & Co. began coverage on shares of Arcus Biosciences in a research note on Wednesday, October 14th. They issued an “overweight” rating and a $41.00 price target for the company. Wedbush raised their price objective on Arcus Biosciences from $43.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Citigroup lifted their price objective on Arcus Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Thursday, October 15th. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arcus Biosciences has an average rating of “Moderate Buy” and an average target price of $39.64.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.