Arcus Biosciences (NYSE:RCUS) Sees Unusually-High Trading Volume – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) shares saw strong trading volume on Tuesday . 594,986 shares traded hands during trading, a decline of 1% from the previous session’s volume of 602,300 shares.The stock last traded at $11.18 and had previously closed at $13.10.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays lifted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research note on Thursday, November 7th. HC Wainwright decreased their price target on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley decreased their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and a consensus price target of $31.29.

Arcus Biosciences Trading Down 16.1 %

The company has a 50-day simple moving average of $14.28 and a 200-day simple moving average of $15.63. 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 stock has a market cap of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Gilead Sciences Inc. bought a new stake in shares of Arcus Biosciences during the fourth quarter worth $447,610,000. FMR LLC raised its position in shares of Arcus Biosciences by 6.9% during the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after acquiring an additional 286,766 shares during the last quarter. Woodline Partners LP raised its position in shares of Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after acquiring an additional 45,497 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after acquiring an additional 603,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Arcus Biosciences by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after acquiring an additional 178,351 shares during the last quarter. 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.