Arcus Biosciences Inc. (NYSE: RCUS) stock jumped 1.58% on Friday to $20.57 against a previous-day closing price of $20.25. With 1.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.93 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $20.66 whereas the lowest price it dropped to was $19.98. The 52-week range on RCUS shows that it touched its highest point at $36.13 and its lowest point at $15.70 during that stretch. It currently has a 1-year price target of $43.08. Beta for the stock currently stands at 0.81.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RCUS was down-trending over the past week, with a drop of -3.79%, but this was up by 16.21% over a month. Three-month performance surged to 4.95% while six-month performance rose 21.29%. The stock lost -20.85% in the past year, while it has lost -0.53% so far this year. A look at the trailing 12-month EPS for RCUS yields -3.95 with Next year EPS estimates of -3.76. For the next quarter, that number is -1.14. This implies an EPS growth rate of -619.20% for this year and 12.60% for next year.
Float and Shares Shorts:
At present, 73.20 million RCUS shares are outstanding with a float of 52.64 million shares on hand for trading. On Aug 30, 2023, short shares totaled 7.34 million, which was 9.85% higher than short shares on Jul 30, 2023. In addition to Dr. Terry J. Rosen Ph.D. as the firm’s Co-Founder, Chairman & CEO, Dr. Juan Carlos Jaen Ph.D. serves as its Co-Founder, Pres & Director.
Through their ownership of 77.64% of RCUS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.38% of RCUS, in contrast to 42.76% held by mutual funds. Shares owned by individuals account for 26.02%. As the largest shareholder in RCUS with 11.18% of the stake, BlackRock Fund Advisors holds 8,331,848 shares worth 8,331,848. A second-largest stockholder of RCUS, Fidelity Management & Research Co, holds 4,557,772 shares, controlling over 6.12% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in RCUS, holding 4,342,248 shares or 5.83% stake. With a 4.97% stake in RCUS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,704,873 shares are owned by the mutual fund manager. The Fidelity Select Port. – Biotechno, which owns about 4.29% of RCUS stock, is the second-largest Mutual Fund holder. It holds 3,193,396 shares valued at 65.46 million. SPDR S&P Biotech ETF holds 3.48% of the stake in RCUS, owning 2,590,761 shares worth 53.11 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, RCUS reported revenue of $26.76M and operating income of -$68.98M. The EBITDA in the recently reported quarter was -$64.62M and diluted EPS was -$0.93.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RCUS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RCUS analysts setting a high price target of $70.00 and a low target of $23.00, the average target price over the next 12 months is $43.55. Based on these targets, RCUS could surge 240.3% to reach the target high and rise by 11.81% to reach the target low. Reaching the average price target will result in a growth of 111.72% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RCUS stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 1,010,000 shares were bought while 58,455 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 1,356,900 while 197,611 shares were sold.