Arcus Biosciences (NYSE:RCUS) Issues Quarterly Earnings Results, Beats Expectations By $0.92 EPS

Arcus Biosciences (NYSE:RCUS) posted its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share 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 business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $28.77 million. During the same quarter in the prior year, the business posted ($1.09) earnings per share. Arcus Biosciences’s revenue was up 480.0% compared to the same quarter last year.

Arcus Biosciences Stock Up 8.2 %

Shares of NYSE:RCUS traded up $1.25 during trading on Thursday, hitting $16.51. The stock had a trading volume of 341,906 shares, compared to its average volume of 766,742. The stock has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $16.58. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -4.06 and a beta of 0.91. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $25.47.

Wall Street Analyst Weigh In

RCUS has been the subject of several research reports. Truist Financial restated a “buy” rating and set a $50.00 price target on shares of Arcus Biosciences in a research note on Monday, March 25th. Mizuho reduced their price target on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average price target of $41.25.

Insider Buying and Selling

In related news, COO Jennifer Jarrett sold 24,555 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.07, for a total transaction of $492,818.85. Following the completion of the transaction, the chief operating officer now directly owns 274,323 shares of the company’s stock, valued at approximately $5,505,662.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arcus Biosciences news, President Juan C. Jaen sold 3,900 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.06, for a total transaction of $78,234.00. Following the sale, the president now directly owns 1,211,365 shares of the company’s stock, valued at $24,299,981.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Jarrett sold 24,555 shares of Arcus Biosciences stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.07, for a total transaction of $492,818.85. Following the completion of the transaction, the chief operating officer now directly owns 274,323 shares in the company, valued at approximately $5,505,662.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,455 shares of company stock worth $1,014,779. Insiders own 12.30% of the company’s stock.

Arcus Biosciences Company Profile

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.