Arcus Biosciences (NYSE:RCUS) Sees Large Volume Increase – Should You Buy?

Arcus Biosciences, Inc. (NYSE:RCUS) saw strong trading volume on Thursday . 566,048 shares traded hands during trading, a decline of 21% from the previous session’s volume of 720,844 shares.The stock last traded at $17.38 and had previously closed at $17.33.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. HC Wainwright began coverage on shares of Arcus Biosciences in a research report on Monday. They set a “neutral” rating and a $20.00 price objective for the company. Barclays reduced their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, Evercore ISI raised 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, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.22.

Arcus Biosciences Price Performance

The business’s 50 day moving average price is $16.85 and its 200-day moving average price is $16.04. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.91 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The business had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same period in the previous year, the business posted ($1.04) earnings per share. The business’s revenue was up 34.5% compared to the same quarter last year. As a group, analysts expect that Arcus Biosciences, Inc. will post -3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Arcus Biosciences by 51.6% during the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after buying an additional 826 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Arcus Biosciences in the first quarter valued at about $59,000. Innealta Capital LLC purchased a new stake in shares of Arcus Biosciences in the second quarter valued at about $66,000. Point72 DIFC Ltd purchased a new stake in shares of Arcus Biosciences in the second quarter valued at about $83,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Arcus Biosciences by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after purchasing an additional 746 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.