Arcus Biosciences (NYSE:RCUS) Shares Gap Down to $15.72

Arcus Biosciences, Inc. (NYSE:RCUS) shares gapped down before the market opened on Monday . The stock had previously closed at $15.72, but opened at $15.30. Arcus Biosciences shares last traded at $15.48, with a volume of 17,715 shares trading hands.

Analyst Upgrades and Downgrades

RCUS has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research note on Friday, August 9th. Barclays dropped their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a report on Friday, August 9th. Truist Financial cut their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Friday, August 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Buy” and a consensus target price of $35.71.

Arcus Biosciences Trading Up 1.9 %

The business has a 50-day moving average price of $15.58 and a 200 day moving average price of $16.38. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -5.05 and a beta of 0.90.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The firm had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period in the previous year, the firm earned ($1.04) earnings per share. Arcus Biosciences’s quarterly revenue was up 34.5% on a year-over-year basis. On average, analysts anticipate that Arcus Biosciences, Inc. will post -3.03 earnings per share for the current year.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after acquiring an additional 826 shares during the last quarter. Headlands Technologies LLC acquired a new position in Arcus Biosciences in the 1st quarter worth about $59,000. Innealta Capital LLC purchased a new stake in shares of Arcus Biosciences during the 2nd quarter worth about $66,000. Quest Partners LLC acquired a new stake in shares of Arcus Biosciences during the 4th quarter valued at about $77,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Arcus Biosciences in the 4th quarter valued at approximately $77,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.