Arcus Biosciences (RCUS) Issues Earnings Results

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Arcus Biosciences (NYSE:RCUS) issued its earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.13, Fidelity Earnings reports. The business had revenue of $4.29 million during the quarter, compared to the consensus estimate of $1.40 million.

Shares of NYSE RCUS traded up $0.44 during midday trading on Friday, hitting $12.28. 2,410 shares of the stock traded hands, compared to its average volume of 136,255. Arcus Biosciences has a one year low of $9.50 and a one year high of $22.10.

In other news, CEO Terry J. Rosen acquired 28,401 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was purchased at an average price of $12.64 per share, for a total transaction of $358,988.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Terry J. Rosen acquired 9,929 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were purchased 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. In the last 90 days, insiders have bought 85,117 shares of company stock valued at $1,118,707.

An institutional investor recently bought a new position in Arcus Biosciences stock. Bank of New York Mellon Corp bought a new stake in shares of Arcus Biosciences Inc (NYSE:RCUS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,047 shares of the company’s stock, valued at approximately $196,000. Institutional investors and hedge funds own 39.01% of the company’s stock.

Several equities research analysts have recently commented on RCUS shares. Zacks Investment Research downgraded Arcus Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Wedbush started coverage on Arcus Biosciences in a report on Tuesday, October 9th. They set an “outperform” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price 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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