Arcus Biosciences (NYSE:RCUS) Sees Unusually-High Trading Volume – Still a Buy?

Arcus Biosciences, Inc. (NYSE:RCUS) shares saw unusually-strong trading volume on Tuesday . Approximately 594,986 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 602,300 shares.The stock last traded at $11.18 and had previously closed at $13.10.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RCUS. Wedbush reaffirmed an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. Morgan Stanley dropped their price objective 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. Bank of America dropped their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays boosted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, HC Wainwright reduced their price objective on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Arcus Biosciences Stock Down 3.1 %

The stock has a market cap of $984.21 million, a P/E ratio of -3.41 and a beta of 0.84. 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 business has a 50-day simple moving average of $14.15 and a 200-day simple moving average of $15.60.

Insider Activity

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RCUS. R Squared Ltd acquired a new position in Arcus Biosciences during the fourth quarter worth $26,000. Point72 Hong Kong Ltd acquired a new position in Arcus Biosciences during the third quarter worth $47,000. Lazard Asset Management LLC raised its stake in Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after acquiring an additional 6,078 shares in the last quarter. US Bancorp DE raised its stake in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.