Arcus Biosciences (NYSE:RCUS) Trading Down 6.3% - Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) traded down 6.3% on Friday . The company traded as low as $8.06 and last traded at $7.97. 572,180 shares changed hands during trading, a decline of 34% from the average session volume of 868,298 shares. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

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

Arcus Biosciences Stock Up 2.8%

The company has a quick ratio of 5.37, a current ratio of 5.37 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $8.81 and a two-hundred day moving average of $10.56. The firm has a market capitalization of $865.12 million, a price-to-earnings ratio of -1.95 and a beta of 0.83.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). The company had revenue of $28.00 million during the quarter, compared to the consensus estimate of $38.61 million. Arcus Biosciences had a negative return on equity of 70.58% and a negative net margin of 258.94%. The firm's revenue was down 80.7% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Institutional Trading of Arcus Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Arcus Biosciences by 2.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after buying an additional 833 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Arcus Biosciences by 10.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 20,202 shares of the company's stock valued at $159,000 after acquiring an additional 1,986 shares during the period. Teacher Retirement System of Texas increased its position in Arcus Biosciences by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock valued at $223,000 after acquiring an additional 2,410 shares during the period. Handelsbanken Fonder AB increased its position in Arcus Biosciences by 11.2% in the 4th quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company's stock valued at $369,000 after acquiring an additional 2,500 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Arcus Biosciences by 8.1% during the fourth quarter. MetLife Investment Management LLC now owns 33,525 shares of the company's stock worth $499,000 after purchasing an additional 2,521 shares during the period. Institutional investors own 92.89% of the company's stock.

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.