Arcus Biosciences (NYSE:RCUS) Stock Price Down 3.8% - What's Next?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s stock price fell 3.8% during trading on Wednesday . The company traded as low as $9.59 and last traded at $9.64. 250,920 shares traded hands during trading, a decline of 77% from the average session volume of 1,068,792 shares. The stock had previously closed at $10.02.

Analysts Set New Price Targets

A number of research firms have recently commented on RCUS. Bank of America dropped their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their target price for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Barclays dropped their target price on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group dropped their target price on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Wells Fargo & Company dropped their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Arcus Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $24.13.

Arcus Biosciences Trading Down 9.3%

The company's 50 day simple moving average is $8.55 and its 200 day simple moving average is $11.34. The firm has a market cap of $961.97 million, a price-to-earnings ratio of -2.88 and a beta of 0.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business's revenue for the quarter was down 80.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. Strs Ohio purchased a new stake in shares of Arcus Biosciences in the first quarter valued at about $67,000. E Fund Management Co. Ltd. purchased a new position in Arcus Biosciences during the first quarter worth about $82,000. Lazard Asset Management LLC raised its holdings in Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock worth $93,000 after purchasing an additional 6,078 shares in the last quarter. Knott David M Jr purchased a new position in Arcus Biosciences during the first quarter worth about $94,000. Finally, US Bancorp DE raised its holdings in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company's stock worth $103,000 after purchasing an additional 6,615 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other 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.