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Arcus Biosciences (NYSE:RCUS) Stock Price Up 8.1% - Should You Buy?

Arcus Biosciences logo with Medical background

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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