Arcus Biosciences (NYSE:RCUS) Trading Up 12.7% – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price was up 12.7% on Wednesday . The company traded as high as $27.13 and last traded at $27.6340. Approximately 412,858 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,214,250 shares. The stock had previously closed at $24.52.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RCUS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Wall Street Zen upgraded Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup increased their price target on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

Arcus Biosciences Price Performance

The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -8.33 and a beta of 0.86. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $21.76 and a 200 day simple moving average of $21.41.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.22. Arcus Biosciences had a negative return on equity of 65.77% and a negative net margin of 142.91%.The firm had revenue of $33.00 million during the quarter, compared to analyst estimates of $24.94 million. During the same period last year, the company posted ($1.03) EPS. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in RCUS. GAMMA Investing LLC raised its stake in shares of Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after purchasing an additional 1,021 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after purchasing an additional 2,845 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Arcus Biosciences in the 4th quarter valued at approximately $39,000. Finally, Strs Ohio bought a new position in shares of Arcus Biosciences in the 1st quarter valued at approximately $67,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.