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

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price rose 8.1% during trading on Wednesday . The stock traded as high as $9.07 and last traded at $9.19. Approximately 192,520 shares were traded during trading, a decline of 78% from the average daily volume of 880,360 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

RCUS has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note 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 on the stock in a research note on Thursday, May 8th. Finally, Barclays lowered 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 note on Wednesday, April 23rd. 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 company has a consensus rating of "Moderate Buy" and an average price target of $21.29.

Arcus Biosciences Stock Performance

The firm's 50-day moving average price is $8.87 and its two-hundred day moving average price is $10.24. The firm has a market capitalization of $990.07 million, a PE ratio of -2.23 and a beta of 0.80. The company has a quick ratio of 5.37, a current ratio of 5.37 and a debt-to-equity ratio of 0.09.

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). The firm had revenue of $28.00 million during the quarter, compared to analysts' expectations of $38.61 million. Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. The business's revenue was down 80.7% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. As a group, research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RCUS. Gilead Sciences Inc. purchased a new position in shares of Arcus Biosciences in the fourth quarter worth approximately $447,610,000. Woodline Partners LP boosted its holdings in shares of Arcus Biosciences by 45.5% during 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 during the period. Boxer Capital Management LLC acquired a new position in Arcus Biosciences in the 4th quarter valued at approximately $23,857,000. Vanguard Group Inc. increased its stake in 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 buying an additional 1,298,584 shares during the period. Finally, RA Capital Management L.P. acquired a new position in Arcus Biosciences in the 1st quarter valued at approximately $8,920,000. 92.89% of the stock is owned by hedge funds and other 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.