Arcus Biosciences (NYSE:RCUS) Stock Price Down 4.5% – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price traded down 4.5% during trading on Wednesday . The company traded as low as $13.53 and last traded at $13.50. 182,939 shares changed hands during trading, a decline of 65% from the average session volume of 526,875 shares. The stock had previously closed at $14.14.

Analysts Set New Price Targets

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

Arcus Biosciences Trading Down 0.9 %

The firm has a market capitalization of $1.21 billion, a PE ratio of -4.19 and a beta of 0.87. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The company’s 50-day simple moving average is $15.35 and its 200 day simple moving average is $15.90.

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

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Arcus Biosciences by 6.9% in the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after acquiring an additional 286,766 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the period. Parkman Healthcare Partners LLC increased its holdings in shares of Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Arcus Biosciences by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after purchasing an additional 186,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Arcus Biosciences by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after purchasing an additional 59,536 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.