Arcus Biosciences (NYSE:RCUS) Stock Price Up 10.6% - What's Next?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shot up 10.6% during trading on Tuesday . The stock traded as high as $10.22 and last traded at $10.20. 635,508 shares were traded during mid-day trading, a decline of 26% from the average session volume of 861,584 shares. The stock had previously closed at $9.22.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCUS. Morgan Stanley lowered their target price on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company lowered their price target on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Barclays lowered their price objective on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.13.

Arcus Biosciences Trading Down 0.3%

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -3.04 and a beta of 0.88. The business's 50-day simple moving average is $8.33 and its 200-day simple moving average is $11.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data 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 102.66% and a negative return on equity of 45.59%. The firm had revenue of $28.00 million during the quarter, compared to analysts' expectations of $38.61 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The business's quarterly revenue was down 80.7% on a year-over-year basis. Research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Arcus Biosciences in the fourth quarter valued at approximately $26,000. Strs Ohio bought a new stake in Arcus Biosciences in the 1st quarter valued at $67,000. E Fund Management Co. Ltd. bought a new position in Arcus Biosciences in the first quarter valued at approximately $82,000. Lazard Asset Management LLC raised 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 buying an additional 6,078 shares in the last quarter. Finally, Knott David M Jr acquired a new position in Arcus Biosciences during the 1st quarter worth approximately $94,000. 92.89% of the stock is currently 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.