Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s stock price shot up 8.1% during mid-day trading on Wednesday . The stock traded as high as $9.07 and last traded at $9.19. 192,520 shares changed hands during trading, a decline of 78% from the average session volume of 880,360 shares. The stock had previously closed at $8.50.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price objective 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. Wedbush reaffirmed an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. Barclays reduced their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a research 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 for the company in a research report on Friday, May 9th. Finally, Wells Fargo & Company reduced their price target on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.29.
Read Our Latest Stock Report on RCUS
Arcus Biosciences Trading Up 9.5%
The company has a 50 day moving average of $8.84 and a two-hundred day moving average of $10.29. The stock has a market capitalization of $985.84 million, a PE ratio of -2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.37 and a current ratio of 5.37.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results 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 company had revenue of $28.00 million for the quarter, compared to analysts' expectations of $38.61 million. During the same period in the prior year, the firm posted ($0.05) EPS. The firm's revenue for the quarter was down 80.7% on a year-over-year basis. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.
Institutional Trading of Arcus Biosciences
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gilead Sciences Inc. acquired a new position in Arcus Biosciences in the 4th quarter worth about $447,610,000. Woodline Partners LP raised its stake in shares of Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock worth $40,249,000 after buying an additional 1,603,367 shares during the period. Boxer Capital Management LLC purchased a new position in shares of Arcus Biosciences during the 4th quarter valued at approximately $23,857,000. Vanguard Group Inc. lifted its position in shares of Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock valued at $52,499,000 after buying an additional 1,298,584 shares in the last quarter. Finally, RA Capital Management L.P. acquired a new stake in Arcus Biosciences in the 1st quarter valued at $8,920,000. 92.89% of the stock is owned by institutional investors and hedge funds.
Arcus Biosciences Company Profile
(
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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