Arcus Biosciences (NYSE:RCUS) Stock Price Up 4.2% – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) shot up 4.2% during mid-day trading on Tuesday . The stock traded as high as $15.19 and last traded at $15.17. 105,065 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 729,583 shares. The stock had previously closed at $14.56.

Wall Street Analyst Weigh In

Several research firms have issued reports on RCUS. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Barclays boosted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, HC Wainwright reissued a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a report on Wednesday, November 6th. One 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 stock. According to data from MarketBeat, Arcus Biosciences presently has an average rating of “Buy” and a consensus price target of $34.00.

Arcus Biosciences Stock Up 11.1 %

The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.96 and a beta of 0.89. The business’s 50-day moving average is $16.32 and its 200-day moving average is $16.06. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The company had revenue of $48.00 million during 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 firm’s quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.94) earnings per share. As a group, equities analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RCUS. ProShare Advisors LLC raised its position in shares of Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position 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 purchasing an additional 2,420 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Arcus Biosciences by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after purchasing an additional 110,528 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Arcus Biosciences by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after purchasing an additional 1,906 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Arcus Biosciences by 1,396.1% during the 2nd quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after purchasing an additional 120,650 shares during the last quarter. 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.