Arcus Biosciences’ (NYSE:RCUS) lock-up period will end on Tuesday, September 11th. Arcus Biosciences had issued 8,000,000 shares in its IPO on March 15th. The total size of the offering was $120,000,000 based on an initial share price of $15.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
Separately, Zacks Investment Research upgraded Arcus Biosciences from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Saturday, July 21st.
NYSE:RCUS opened at $13.09 on Thursday. Arcus Biosciences has a 1 year low of $10.80 and a 1 year high of $22.10.
Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Monday, August 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.08. The business had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $1.30 million. analysts predict that Arcus Biosciences will post -1.81 EPS for the current fiscal year.
In other Arcus Biosciences news, CEO Terry J. Rosen acquired 9,929 shares of the business’s stock in a transaction on Monday, August 13th. The stock was purchased at an average price of $11.87 per share, for a total transaction of $117,857.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Juan C. Jaen acquired 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $11.88 per share, with a total value of $118,800.00. The disclosure for this purchase can be found here. Insiders acquired 85,117 shares of company stock valued at $1,118,707 in the last quarter.
A number of large investors have recently added to or reduced their stakes in the business. DAFNA Capital Management LLC purchased a new position in Arcus Biosciences in the first quarter worth $116,000. Point72 Asia Hong Kong Ltd purchased a new position in shares of Arcus Biosciences in the first quarter valued at $118,000. Cubist Systematic Strategies LLC purchased a new position in shares of Arcus Biosciences in the first quarter valued at $137,000. Platinum Investment Management Ltd. purchased a new position in shares of Arcus Biosciences in the first quarter valued at $154,000. Finally, Zimmer Partners LP purchased a new position in shares of Arcus Biosciences in the first quarter valued at $154,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.
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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