Arcus Biosciences (NYSE:RCUS) Shares Gap Down – Should You Sell?

Arcus Biosciences, Inc. (NYSE:RCUS) shares gapped down prior to trading on Monday . The stock had previously closed at $18.44, but opened at $17.95. Arcus Biosciences shares last traded at $17.90, with a volume of 14,382 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on RCUS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wedbush restated an “outperform” rating and set a $30.00 target price on shares of Arcus Biosciences in a report on Thursday, October 3rd. HC Wainwright assumed coverage on Arcus Biosciences in a report on Monday. They issued a “neutral” rating and a $20.00 price target for the company. Wells Fargo & Company assumed coverage on Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective for the company. Finally, Barclays decreased their target price on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $33.22.

Arcus Biosciences Stock Down 8.8 %

The company has a market capitalization of $1.53 billion, a P/E ratio of -5.54 and a beta of 0.88. The business’s 50-day moving average is $16.73 and its two-hundred day moving average is $16.05.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting the consensus estimate of ($1.02). The firm had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.04) EPS. Analysts predict that Arcus Biosciences, Inc. will post -3.11 EPS for the current year.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 51.6% during the 1st quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after purchasing an additional 826 shares during the last quarter. Headlands Technologies LLC purchased a new position in Arcus Biosciences in the 1st quarter valued at approximately $59,000. Innealta Capital LLC bought a new position in Arcus Biosciences in the 2nd quarter valued at $66,000. Point72 DIFC Ltd bought a new stake in shares of Arcus Biosciences during the 2nd quarter worth $83,000. Finally, ProShare Advisors LLC lifted its holdings 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 acquiring an additional 746 shares during the last quarter. 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.