Arcus Biosciences (NYSE:RCUS) Stock Price Down 6.5%

Arcus Biosciences, Inc. (NYSE:RCUS) was down 6.5% during mid-day trading on Tuesday . The stock traded as low as $14.30 and last traded at $14.30. Approximately 143,559 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 788,921 shares. The stock had previously closed at $15.30.

Analyst Ratings Changes

Several analysts have recently issued reports on RCUS shares. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, May 9th. Truist Financial reduced their price objective on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Finally, Citigroup increased their price objective on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Arcus Biosciences Stock Down 2.0 %

The stock has a 50 day simple moving average of $15.95 and a two-hundred day simple moving average of $16.81.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.92. Arcus Biosciences had a negative return on equity of 40.98% and a negative net margin of 97.47%. The company had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $28.77 million. During the same period last year, the firm earned ($1.09) earnings per share. Arcus Biosciences’s quarterly revenue was up 480.0% on a year-over-year basis. Equities research analysts predict that Arcus Biosciences, Inc. will post -2.61 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Arcus Biosciences by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after purchasing an additional 1,906 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Arcus Biosciences by 2.4% during the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after purchasing an additional 110,528 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Arcus Biosciences by 16.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,492 shares of the company’s stock worth $319,000 after purchasing an additional 2,420 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Arcus Biosciences by 26.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock worth $12,933,000 after purchasing an additional 145,298 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after purchasing an additional 746 shares during the last quarter. Hedge funds and other 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.