Arcus Biosciences (NYSE:RCUS) Shares Down 5.5% – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS) shares were down 5.5% during mid-day trading on Monday . The company traded as low as $7.73 and last traded at $7.73. Approximately 158,320 shares changed hands during trading, a decline of 80% from the average daily volume of 774,514 shares. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

RCUS has been the topic of several research reports. Morgan Stanley dropped their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Bank of America decreased their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Arcus Biosciences currently has an average rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Stock Performance

The firm has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $13.59. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $805.36 million, a price-to-earnings ratio of -2.43 and a beta of 1.54.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcus Biosciences news, CEO Terry J. Rosen purchased 19,800 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the transaction, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Yasunori Kaneko acquired 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.06 per share, with a total value of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Jane Street Group LLC increased its position in Arcus Biosciences by 59.8% during the 3rd quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after purchasing an additional 81,193 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Arcus Biosciences by 100.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 23,581 shares of the company’s stock worth $361,000 after buying an additional 11,827 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 buying an additional 39,015 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Arcus Biosciences by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock valued at $668,000 after acquiring an additional 1,117 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Arcus Biosciences by 2.5% during the 4th quarter. Nordea Investment Management AB now owns 218,930 shares of the company’s stock valued at $3,245,000 after acquiring an additional 5,246 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.