Arcus Biosciences (NYSE:RCUS) Stock Price Down 5.8% – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price traded down 5.8% on Tuesday . The company traded as low as $9.95 and last traded at $9.90. 387,331 shares changed hands during trading, a decline of 45% from the average session volume of 708,444 shares. The stock had previously closed at $10.50.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Bank of America lowered their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Wedbush reiterated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Arcus Biosciences has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Price Performance

The stock has a market capitalization of $1.01 billion, a P/E ratio of -3.06 and a beta of 0.84. 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 firm has a fifty day moving average price of $13.26 and a two-hundred day moving average price of $15.36.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock valued at $506,000 after acquiring an additional 833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arcus Biosciences by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock worth $471,000 after purchasing an additional 843 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares in the last quarter. R Squared Ltd bought a new stake in shares of Arcus Biosciences during the 4th quarter valued at $26,000. Finally, Teacher Retirement System of Texas raised its position in shares of Arcus Biosciences by 19.2% during the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after purchasing an additional 2,410 shares during the period. 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.