Arcus Biosciences (NYSE:RCUS) Sees Unusually-High Trading Volume – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) shares saw unusually-strong trading volume on Tuesday . Approximately 594,986 shares changed hands during trading, a decline of 1% from the previous session’s volume of 602,300 shares.The stock last traded at $11.18 and had previously closed at $13.10.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of recent research reports. HC Wainwright cut their price target on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays raised their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley cut their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $31.29.

Arcus Biosciences Price Performance

The stock has a 50 day moving average of $14.28 and a two-hundred day moving average of $15.63. 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 firm has a market capitalization of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RCUS. GSA Capital Partners LLP increased its position in Arcus Biosciences by 17.8% in the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock worth $2,866,000 after buying an additional 28,307 shares during the period. Quest Partners LLC grew its holdings in shares of Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Arcus Biosciences by 25.1% during the 3rd 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 in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Arcus Biosciences during the 3rd quarter worth approximately $244,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Arcus Biosciences by 39.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock worth $1,237,000 after purchasing an additional 22,716 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.