Arcus Biosciences (NYSE:RCUS) Shares Gap Up - Still a Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $9.33, but opened at $9.91. Arcus Biosciences shares last traded at $9.31, with a volume of 99,569 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wedbush reiterated an "outperform" rating and set a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Barclays decreased their target price on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group decreased their target price on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company decreased their target price on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $21.29.

Arcus Biosciences Trading Down 2.0%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.37 and a current ratio of 5.37. The company has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $10.24. The company has a market capitalization of $990.07 million, a P/E ratio of -2.23 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $38.61 million. During the same period in the previous year, the business posted ($0.05) EPS. Arcus Biosciences's revenue for the quarter was down 80.7% compared to the same quarter last year. Sell-side analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Institutional Trading of Arcus Biosciences

Several institutional investors have recently bought and sold shares of RCUS. Strs Ohio bought a new stake in shares of Arcus Biosciences during the first quarter worth $67,000. E Fund Management Co. Ltd. bought a new stake in shares of Arcus Biosciences during the first quarter worth $82,000. Lazard Asset Management LLC raised its position 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 last quarter. Knott David M Jr bought a new stake in shares of Arcus Biosciences during the first quarter worth $94,000. Finally, US Bancorp DE raised its position in shares of 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 acquiring an additional 6,615 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

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.