Arcus Biosciences (NYSE:RCUS) Trading Up 8.1% - Time to Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shot up 8.1% on Wednesday . The stock traded as high as $9.07 and last traded at $9.19. 192,520 shares traded 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

Several equities analysts have recently issued reports on RCUS shares. The Goldman Sachs Group reduced their price target on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Morgan Stanley dropped their price target on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $33.00 target price on shares of Arcus Biosciences in a report on Wednesday, May 7th. Barclays dropped their target price on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their price target 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. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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 business has a 50-day simple moving average of $8.87 and a two-hundred day simple moving average of $10.16. The stock has a market cap of $990.07 million, a price-to-earnings ratio of -2.23 and a beta of 0.80.

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

Institutional Trading of Arcus Biosciences

Large investors have recently bought and sold shares of the business. Gilead Sciences Inc. bought a new position in shares of Arcus Biosciences during the fourth quarter worth about $447,610,000. Woodline Partners LP increased its holdings in Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock worth $40,249,000 after purchasing an additional 1,603,367 shares in the last quarter. Boxer Capital Management LLC bought a new stake in Arcus Biosciences in the fourth quarter worth approximately $23,857,000. Vanguard Group Inc. increased its holdings in Arcus Biosciences by 24.1% in the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock worth $52,499,000 after purchasing an additional 1,298,584 shares in the last quarter. Finally, RA Capital Management L.P. bought a new stake in Arcus Biosciences in the first quarter worth approximately $8,920,000. 92.89% of the stock is owned by institutional investors and hedge funds.

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.