Arcus Biosciences (NYSE:RCUS) Shares Gap Down – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) gapped down before the market opened on Monday . The stock had previously closed at $9.34, but opened at $9.14. Arcus Biosciences shares last traded at $9.11, with a volume of 32,631 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCUS. Bank of America reduced their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Stock Down 3.3 %

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 stock has a 50-day simple moving average of $12.25 and a 200-day simple moving average of $14.87. The firm has a market capitalization of $949.40 million, a PE ratio of -2.86 and a beta of 1.36.

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

Insider Transactions at Arcus Biosciences

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

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently added to or reduced their stakes in RCUS. Quest Partners LLC boosted its stake in Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after buying an additional 9,408 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Arcus Biosciences by 25.1% during 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 purchasing an additional 186,750 shares during the last quarter. Intech Investment Management LLC bought a new stake in Arcus Biosciences during the third quarter worth about $244,000. Massachusetts Financial Services Co. MA lifted its stake in Arcus Biosciences by 39.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 80,889 shares of the company’s stock worth $1,237,000 after purchasing an additional 22,716 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Arcus Biosciences by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after purchasing an additional 59,536 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.