Arcus Biosciences (NYSE:RCUS) Trading 8.1% Higher - Here's Why

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares traded 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 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 research analysts have commented on the company. The Goldman Sachs Group cut their price target on Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company dropped their price objective on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Barclays dropped their price objective on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, 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. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $21.29.

Arcus Biosciences Trading Up 0.5%

The firm has a market capitalization of $993.20 million, a PE ratio of -2.23 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. The firm has a fifty day moving average of $8.85 and a 200 day moving average of $10.29.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted 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 firm 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 business's revenue was down 80.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in shares of Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock worth $93,000 after purchasing an additional 6,078 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Arcus Biosciences by 2,432.0% in the fourth 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. Strs Ohio bought a new stake in Arcus Biosciences during the first quarter worth about $67,000. PEAK6 LLC acquired a new position in shares of Arcus Biosciences in the fourth quarter valued at approximately $149,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Arcus Biosciences in the first quarter valued at approximately $82,000. Institutional investors own 92.89% of the company's stock.

Arcus Biosciences Company Profile

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.