Arcus Biosciences (NYSE:RCUS) Shares Down 4.6% - Here's Why

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares fell 4.6% during mid-day trading on Tuesday . The stock traded as low as $9.36 and last traded at $9.21. 70,741 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 881,764 shares. The stock had previously closed at $9.65.

Analyst Ratings Changes

Several research firms have issued reports on RCUS. Wells Fargo & Company dropped their price target on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Barclays lowered 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. Wedbush reaffirmed an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.29.

Arcus Biosciences Price Performance

The company has a quick ratio of 5.37, a current ratio of 5.37 and a debt-to-equity ratio of 0.09. The firm has a market cap of $968.89 million, a P/E ratio of -2.18 and a beta of 0.80. The business has a fifty day moving average of $8.97 and a 200 day moving average of $9.99.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly 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). Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. The business had revenue of $28.00 million for the quarter, compared to the consensus estimate of $38.61 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The company's revenue for the quarter was down 80.7% on a year-over-year basis. On average, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 6,078 shares during the period. Strs Ohio bought a new stake in shares of Arcus Biosciences during the first quarter worth approximately $67,000. PEAK6 LLC bought a new stake in shares of Arcus Biosciences during the fourth quarter worth approximately $149,000. E Fund Management Co. Ltd. bought a new stake in shares of Arcus Biosciences during the first quarter worth approximately $82,000. Finally, AXQ Capital LP bought a new stake in shares of Arcus Biosciences during the fourth quarter worth approximately $160,000. 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.