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Wednesday, May 25, 2022

Plans to Join S&P SmallCap 600: Arcus Biosciences, Inc. (RCUS) Stock Jumped Premarket.

Arcus Biosciences, Inc. (RCUS) is a late-stage biopharmaceutics company advancing differentiated molecules development for cancer patients. Its shares inclined by 9.07% to be $34.8 during the regular trading session of April 4. Its price further jumped as of the writing in the premarket session on April 5, 2022, by 12.55%. The shares’ 52-week price range is $22.3-$49.1 with a market cap of $2.47 billion.


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RCUS: Replacement at S&P SmallCap 600

On April 4, RCUS updated on the replacement of Investors Bancorp Inc. with it in the S&P SmallCap 600. The substitution will be effective on April 7. Citizens Financial Group Inc., which is a constituent of the S&P 500, is purchasing Investors Bancorp in an agreement estimated to be concluded soon. On March 24, IMRA announced the grant of options to acquire an aggregate of up to 30,950 shares of its common stock to eleven new employees by the Compensation Committee of the Board of Directors. The per-share exercise price was $32.98.

RCUS: Industry Outlook

The biotechnology stocks had observed a meager performance in the past few months as the tensions are mounting in the Russian-Ukrainian war and resultantly the stock market is showing a negative trend. Also, the virus is resurfacing in China which is a growing concern for the stock market. The analysts are cautioning the biotech businesses to take steps for the development of their pipeline products vigorously.

Company Outlook

The company’s management announced various employment inducement grants in the past months. Also, it presented the data regarding pipeline candidates AB521, etrumadenant, and zimberelimab at various conferences in March. The company also surpassed the earnings and revenue estimates for the fourth quarter of 2021 with $354.5 million in revenue and $3.71 EPS. The company is ranked 144 out of 504 in the biotech industry

Conclusion

The price of RCUS shares leaped by 7% in the past year. The company’s recent development of joining the S&P SmallCap 600 resulted in a gain of 10% in its stock price in Tuesday’s premarket.

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