Arcus Biosciences (NYSE:RCUS) Trading Down 4.5% – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price dropped 4.5% during trading on Wednesday . The stock traded as low as $13.53 and last traded at $13.50. Approximately 182,939 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 526,875 shares. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a research report on Wednesday, November 6th. Wells Fargo & Company initiated coverage on Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Barclays upped their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Trading Down 0.9 %

The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -4.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company has a 50 day moving average price of $15.35 and a two-hundred day moving average price of $15.90.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.06. The business had revenue of $48.00 million for the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company’s revenue was up 50.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.94) earnings per share. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.2 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in shares of Arcus Biosciences by 22.5% during the 2nd quarter. American Century Companies Inc. now owns 70,917 shares of the company’s stock worth $1,080,000 after acquiring an additional 13,019 shares during the period. Public Sector Pension Investment Board raised its stake in Arcus Biosciences by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 120,099 shares of the company’s stock worth $1,829,000 after purchasing an additional 8,253 shares during the period. Point72 DIFC Ltd acquired a new position in Arcus Biosciences in the 2nd quarter valued at about $83,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Arcus Biosciences in the 2nd quarter valued at approximately $1,286,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Arcus Biosciences during the 2nd quarter worth approximately $254,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.