Arcus Biosciences (NYSE:RCUS) Releases Earnings Results, Misses Expectations By $0.11 EPS

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

Arcus Biosciences Stock Up 2.2%

Shares of RCUS stock traded up $0.41 during trading hours on Wednesday, reaching $19.32. 1,873,064 shares of the company’s stock were exchanged, compared to its average volume of 1,420,162. The stock’s 50 day moving average is $24.50 and its 200-day moving average is $24.59. Arcus Biosciences has a fifty-two week low of $17.43 and a fifty-two week high of $31.74. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -4.95 and a beta of 1.04. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Arcus Biosciences from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Morgan Stanley set a $23.00 target price on Arcus Biosciences in a research report on Monday, August 10th. Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Thursday, October 15th. Finally, HC Wainwright upped their price objective on Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Twelve research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and a consensus target price of $39.64.

Insider Buying and Selling at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction dated 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 owned 39,581 shares in the company, valued at $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

About Arcus Biosciences

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.