Arcus Biosciences (NYSE:RCUS) Trading Down 5.3% – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS) shares were down 5.3% during mid-day trading on Friday . The stock traded as low as $16.87 and last traded at $16.89. Approximately 305,359 shares were traded during trading, a decline of 58% from the average daily volume of 725,500 shares. The stock had previously closed at $17.83.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RCUS shares. Evercore ISI upgraded shares of Arcus Biosciences to a “strong-buy” rating in a research report on Friday, August 9th. Wells Fargo & Company initiated coverage on Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Arcus Biosciences in a research note on Thursday, October 3rd. HC Wainwright started coverage on Arcus Biosciences in a research note on Monday, October 21st. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $33.67.

Arcus Biosciences Trading Down 8.5 %

The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -5.25 and a beta of 0.88. The firm has a 50 day moving average price of $16.90 and a two-hundred day moving average price of $16.04.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results 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 firm had revenue of $39.00 million for the quarter, compared to analysts’ expectations of $26.24 million. During the same period in the previous year, the company posted ($1.04) earnings per share. Arcus Biosciences’s revenue was up 34.5% compared to the same quarter last year. As a group, research analysts forecast that Arcus Biosciences, Inc. will post -3.25 earnings per share for the current year.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently added to or reduced their stakes in RCUS. Headlands Technologies LLC acquired a new stake in Arcus Biosciences in the first quarter valued at approximately $59,000. Innealta Capital LLC acquired a new stake in Arcus Biosciences during the 2nd quarter valued at $66,000. Point72 DIFC Ltd purchased a new stake in Arcus Biosciences during the 2nd quarter worth $83,000. ProShare Advisors LLC lifted its holdings in Arcus Biosciences by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after buying an additional 746 shares in the last quarter. Finally, Diversified Trust Co boosted its position in Arcus Biosciences by 12.1% in the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after buying an additional 1,467 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other 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.