Arcus Biosciences (NYSE:RCUS) Stock Price Up 4.2% – What’s Next?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) rose 4.2% during mid-day trading on Tuesday . The company traded as high as $15.19 and last traded at $15.17. Approximately 105,065 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 729,583 shares. The stock had previously closed at $14.56.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of research analyst reports. Barclays raised their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wells Fargo & Company initiated coverage on Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective for the company. Evercore ISI upgraded Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Trading Up 11.1 %

The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.48 billion, a P/E ratio of -4.96 and a beta of 0.89. The company’s 50 day simple moving average is $16.32 and its 200-day simple moving average is $16.06.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.06. The business had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.94) earnings per share. As a group, research analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Arcus Biosciences by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after buying an additional 110,528 shares in the last quarter. FMR LLC raised its stake in Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after buying an additional 286,766 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after buying an additional 603,222 shares in the last quarter. Parkman Healthcare Partners LLC raised its stake in Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after buying an additional 610,219 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Arcus Biosciences by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares in 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.