Arcus Biosciences (NYSE:RCUS) Shares Down 5.2%

Arcus Biosciences, Inc. (NYSE:RCUS) shares were down 5.2% during trading on Monday . The stock traded as low as $16.96 and last traded at $17.01. Approximately 140,362 shares traded hands during trading, a decline of 81% from the average daily volume of 722,128 shares. The stock had previously closed at $17.95.

Analyst Ratings Changes

Several research analysts have recently commented on RCUS shares. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, August 9th. Barclays lowered their price target on Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Truist Financial lowered their price target on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Citigroup lifted their target price on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $35.71.

Arcus Biosciences Trading Down 1.5 %

The company has a market capitalization of $1.50 billion, a PE ratio of -5.36 and a beta of 0.90. The stock has a fifty day simple moving average of $15.95 and a 200-day simple moving average of $16.26.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, hitting analysts’ consensus estimates of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. During the same quarter in the previous year, the firm earned ($1.04) earnings per share. The business’s revenue was up 34.5% compared to the same quarter last year. As a group, equities research analysts predict that Arcus Biosciences, Inc. will post -3.03 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its stake in shares of Arcus Biosciences by 26.3% during the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company’s stock worth $4,892,000 after acquiring an additional 53,944 shares in the last quarter. Vanguard Group Inc. lifted its stake in Arcus Biosciences by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock valued at $90,459,000 after buying an additional 110,528 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Arcus Biosciences by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,609 shares of the company’s stock valued at $30,459,000 after buying an additional 158,094 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Arcus Biosciences by 8.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 744,298 shares of the company’s stock valued at $11,336,000 after buying an additional 59,273 shares in the last quarter. Finally, Decheng Capital LLC purchased a new stake in Arcus Biosciences in the 4th quarter valued at approximately $16,613,000. Institutional investors and hedge funds 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.