Arcus Biosciences Sees Unusually High Options Volume (NYSE:RCUS)

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 34,803 call options on the company. This represents an increase of approximately 6,369% compared to the average volume of 538 call options.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of RCUS. Gilead Sciences Inc. acquired a new stake in shares of Arcus Biosciences in the 4th quarter worth approximately $447,610,000. Barclays PLC raised its holdings in Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company's stock worth $1,816,000 after purchasing an additional 39,015 shares in the last quarter. Norges Bank acquired a new stake in Arcus Biosciences in the fourth quarter worth approximately $507,000. Raymond James Financial Inc. bought a new position in Arcus Biosciences during the fourth quarter valued at about $531,000. Finally, 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. Institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on RCUS. Wells Fargo & Company decreased their price target on Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley lowered their price target on Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Bank of America decreased their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Finally, Barclays dropped 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 research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Arcus Biosciences has a consensus rating of "Moderate Buy" and an average target price of $24.13.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS traded up $0.29 during trading hours on Thursday, hitting $9.37. The stock had a trading volume of 2,862,410 shares, compared to its average volume of 881,486. The stock's fifty day simple moving average is $8.55 and its 200 day simple moving average is $11.34. The firm has a market capitalization of $992.14 million, a price-to-earnings ratio of -2.97 and a beta of 0.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences has a 1-year low of $6.50 and a 1-year high of $18.98.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). The business 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 45.59% and a negative net margin of 102.66%. The business's quarterly revenue was down 80.7% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. Sell-side analysts anticipate that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

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.