Arcus Biosciences (NYSE:RCUS) Shares Gap Up - What's Next?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Barclays decreased their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley dropped their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.29.

Arcus Biosciences Trading Up 1.9%

The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.01 billion, a P/E ratio of -2.27 and a beta of 0.80. The company has a 50-day moving average price of $8.87 and a 200 day moving average price of $10.24.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). Arcus Biosciences had a negative net margin of 258.94% and a negative return on equity of 70.58%. The firm had revenue of $28.00 million for the quarter, compared to analysts' expectations of $38.61 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The business's quarterly revenue was down 80.7% compared to the same quarter last year. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently made changes to their positions in RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Arcus Biosciences by 2.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after buying an additional 833 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Arcus Biosciences by 1.6% in the 2nd quarter. Parallel Advisors LLC now owns 88,007 shares of the company's stock valued at $716,000 after purchasing an additional 1,422 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in Arcus Biosciences by 10.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 20,202 shares of the company's stock worth $159,000 after purchasing an additional 1,986 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Arcus Biosciences by 19.2% during the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock valued at $223,000 after purchasing an additional 2,410 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Arcus Biosciences by 8.1% during the 4th quarter. MetLife Investment Management LLC now owns 33,525 shares of the company's stock valued at $499,000 after purchasing an additional 2,521 shares in 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.