Arcus Biosciences (NYSE:RCUS) Stock Price Up 4.2% – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price rose 4.2% on Tuesday . The stock traded as high as $15.19 and last traded at $15.17. Approximately 105,065 shares were traded during trading, a decline of 86% from the average daily volume of 729,583 shares. The stock had previously closed at $14.56.

Wall Street Analysts Forecast Growth

RCUS has been the subject of several recent analyst reports. Barclays increased their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company initiated coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. HC Wainwright restated a “neutral” rating and issued a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Price Performance

The company’s 50 day moving average price is $16.30 and its 200 day moving average price is $16.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -5.02 and a beta of 0.89.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The firm had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.94) earnings per share. On average, equities research analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in Arcus Biosciences in the third quarter worth $47,000. Innealta Capital LLC bought a new position in shares of Arcus Biosciences in the second quarter valued at about $66,000. Point72 DIFC Ltd acquired a new position in Arcus Biosciences during the 2nd quarter worth about $83,000. Quest Partners LLC grew its holdings in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after acquiring an additional 9,408 shares during the last quarter. Finally, Diversified Trust Co increased its position in Arcus Biosciences by 12.1% in the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after acquiring an additional 1,467 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.