Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares dropped 8% on Monday . The stock traded as low as $11.28 and last traded at $11.22. Approximately 187,054 shares changed hands during trading, a decline of 81% from the average daily volume of 1,002,565 shares. The stock had previously closed at $12.19.
Wall Street Analysts Forecast Growth
RCUS has been the topic of several recent research reports. Wells Fargo & Company cut their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $21.14.
Check Out Our Latest Analysis on Arcus Biosciences
Arcus Biosciences Stock Performance
The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.63 and a beta of 0.83. The company's 50 day moving average is $10.02 and its 200 day moving average is $9.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.03. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The firm had revenue of $160.00 million during the quarter, compared to analysts' expectations of $32.86 million. During the same period in the prior year, the company earned ($1.02) EPS. The business's quarterly revenue was up 310.3% compared to the same quarter last year. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.
Institutional Investors Weigh In On Arcus Biosciences
Several institutional investors and hedge funds have recently made changes to their positions in RCUS. Woodline Partners LP boosted its stake in shares of Arcus Biosciences by 45.5% in the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock valued at $40,249,000 after purchasing an additional 1,603,367 shares in the last quarter. Gilead Sciences Inc. boosted its stake in shares of Arcus Biosciences by 4.5% in the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company's stock valued at $246,684,000 after purchasing an additional 1,363,636 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Arcus Biosciences by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock valued at $52,499,000 after purchasing an additional 1,298,584 shares in the last quarter. RA Capital Management L.P. acquired a new stake in shares of Arcus Biosciences in the 1st quarter valued at $8,920,000. Finally, Wellington Management Group LLP bought a new position in shares of Arcus Biosciences in the first quarter valued at about $8,500,000. Institutional investors and hedge funds own 92.89% of the company's stock.
About Arcus Biosciences
(
Get Free Report)
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.
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