Arcus Biosciences (NYSE:RCUS) Shares Down 5% – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS) fell 5% during trading on Monday . The company traded as low as $14.90 and last traded at $14.92. 247,348 shares were traded during mid-day trading, a decline of 66% from the average session volume of 733,496 shares. The stock had previously closed at $15.70.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RCUS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Barclays upped their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target for the company. HC Wainwright reiterated a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Finally, Wedbush restated an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $34.00.

Arcus Biosciences Stock Performance

The business’s 50-day moving average price is $16.54 and its 200-day moving average price is $16.09. The stock has a market cap of $1.34 billion, a P/E ratio of -4.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.06. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same quarter in the prior year, the business posted ($0.94) earnings per share. The business’s quarterly revenue was up 50.0% on a year-over-year basis. As a group, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its stake in Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after buying an additional 746 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Arcus Biosciences by 16.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,492 shares of the company’s stock worth $319,000 after acquiring an additional 2,420 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after purchasing an additional 110,528 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Arcus Biosciences by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock valued at $657,000 after purchasing an additional 1,906 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Arcus Biosciences by 1,396.1% in the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock valued at $1,969,000 after acquiring an additional 120,650 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.