Arcus Biosciences (NYSE:RCUS) Stock Price Up 8.1% - Still a Buy?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares shot up 8.1% during trading on Wednesday . The stock traded as high as $9.07 and last traded at $9.19. 192,520 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 880,360 shares. The stock had previously closed at $8.50.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RCUS. 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. The Goldman Sachs Group lowered their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Wedbush restated an "outperform" rating and issued a $33.00 price objective on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Finally, Barclays lowered their price objective on shares of Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.29.

Arcus Biosciences Stock Performance

The stock has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $10.24. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.27 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 issued its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. During the same period in the prior year, the business posted ($0.05) EPS. The company's revenue for the quarter was down 80.7% compared to the same quarter last year. Analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Arcus Biosciences by 8.6% during the 4th quarter. Bank of New York Mellon Corp now owns 381,615 shares of the company's stock worth $5,682,000 after acquiring an additional 30,290 shares during the period. US Bancorp DE boosted its position in shares of Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after purchasing an additional 6,615 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Arcus Biosciences by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,623 shares of the company's stock worth $8,631,000 after purchasing an additional 12,644 shares during the period. Raymond James Financial Inc. bought a new stake in Arcus Biosciences in the fourth quarter worth approximately $531,000. Finally, Amundi increased its holdings in Arcus Biosciences by 137.0% in the fourth quarter. Amundi now owns 27,030 shares of the company's stock worth $403,000 after purchasing an additional 15,624 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.