Arcus Biosciences (RCUS) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Arcus Biosciences (NYSE:RCUS) posted its quarterly earnings data on Thursday. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.13, Fidelity Earnings reports. The firm had revenue of $4.29 million during the quarter, compared to analysts’ expectations of $1.40 million.

Shares of NYSE:RCUS traded up $0.40 during trading on Friday, hitting $12.24. 2,685 shares of the company were exchanged, compared to its average volume of 136,255. Arcus Biosciences has a 52-week low of $9.50 and a 52-week high of $22.10.

RCUS has been the topic of several recent research reports. Wedbush initiated coverage on Arcus Biosciences in a research report on Tuesday, October 9th. They set an “outperform” rating and a $22.00 target price on the stock. Zacks Investment Research downgraded Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Arcus Biosciences has a consensus rating of “Buy” and a consensus target price of $18.60.

In other news, CEO Terry J. Rosen purchased 18,607 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were purchased at an average price of $15.07 per share, with a total value of $280,407.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Juan C. Jaen purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was purchased at an average cost of $11.88 per share, for a total transaction of $118,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 85,117 shares of company stock worth $1,118,707.

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

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About Arcus Biosciences

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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