Arcus Biosciences Inc (NYSE: RCUS) stock jumped 3.13% on Friday to $14.49 against a previous-day closing price of $14.05. With 0.54 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.85 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $14.81 whereas the lowest price it dropped to was $14.19. The 52-week range on RCUS shows that it touched its highest point at $36.13 and its lowest point at $12.95 during that stretch. It currently has a 1-year price target of $41.00. Beta for the stock currently stands at 0.68.
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 up-trending over the past week, with a rise of 7.02%, but this was down by -8.06% over a month. Three-month performance dropped to -23.62% while six-month performance fell -20.69%. The stock lost -49.81% in the past year, while it has lost -29.93% so far this year. A look at the trailing 12-month EPS for RCUS yields -4.00 with Next year EPS estimates of -4.08. For the next quarter, that number is -1.04. This implies an EPS growth rate of -9.29% for this year and -0.68% for next year.
Float and Shares Shorts:
At present, 72.90 million RCUS shares are outstanding with a float of 48.18 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.92 million, which was 9.25% higher than short shares on Sep 28, 2023. In addition to CRUS as the firm’s Cirrus Logic, Inc., RCUS serves as its Arcus Biosciences, Inc..
Through their ownership of 77.64% of RCUS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.33% of RCUS, in contrast to 42.28% held by mutual funds. Shares owned by individuals account for 24.10%. As the largest shareholder in RCUS with 11.19% of the stake, BlackRock Fund Advisors holds 8,338,732 shares worth 8,338,732. A second-largest stockholder of RCUS, Fidelity Management & Research Co, holds 4,780,052 shares, controlling over 6.42% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in RCUS, holding 4,389,997 shares or 5.89% stake. With a 4.84% stake in RCUS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,608,852 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 50.17 million. SPDR S&P Biotech ETF holds 3.41% of the stake in RCUS, owning 2,537,234 shares worth 39.86 million.
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 $41.00. Based on these targets, RCUS could surge 383.09% to reach the target high and rise by 58.73% to reach the target low. Reaching the average price target will result in a growth of 182.95% from current levels.
Summary of Insider Activity:
Insiders traded RCUS stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 37,583 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 1,356,900 while 235,194 shares were sold.