Arcus Biosciences (NYSE:RCUS) Trading 7.7% Higher – Should You Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) traded up 7.7% during trading on Friday . The stock traded as high as $16.50 and last traded at $16.49. 402,057 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 713,839 shares. The stock had previously closed at $15.31.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday. Barclays reduced their price target on shares of Arcus Biosciences from $35.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. Truist Financial reduced their price target on shares of Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research report on Thursday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Buy” and a consensus price target of $35.71.

Arcus Biosciences Price Performance

The firm has a market cap of $1.51 billion, a P/E ratio of -5.20 and a beta of 0.90. The stock’s 50-day simple moving average is $16.15 and its two-hundred day simple moving average is $16.05.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, meeting 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 analysts’ expectations of $26.24 million. During the same quarter 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, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RCUS. GAMMA Investing LLC grew its holdings in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company’s stock worth $46,000 after purchasing an additional 826 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Arcus Biosciences in the first quarter worth about $59,000. Innealta Capital LLC bought a new position in shares of Arcus Biosciences in the second quarter worth about $66,000. Point72 DIFC Ltd bought a new position in shares of Arcus Biosciences in the second quarter worth about $83,000. Finally, ProShare Advisors LLC grew 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 worth $205,000 after purchasing an additional 746 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.