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

Arcus Biosciences, Inc. (NYSE:RCUS) gapped down prior to trading on Tuesday . The stock had previously closed at $22.74, but opened at $21.64. Arcus Biosciences shares last traded at $23.1110, with a volume of 736,557 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RCUS shares. Wells Fargo & Company set a $23.00 target price on Arcus Biosciences and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research note on Monday. Citigroup upped their price target on Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Arcus Biosciences in a research note on Monday, March 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

Arcus Biosciences Stock Performance

The firm has a 50 day moving average of $21.69 and a two-hundred day moving average of $21.33. The stock has a market cap of $2.90 billion, a P/E ratio of -7.04 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.36 and a current ratio of 4.36.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $24.94 million. During the same quarter in the prior year, the company earned ($1.03) EPS. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, research analysts predict that Arcus Biosciences, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Trading of Arcus Biosciences

Several hedge funds have recently added to or reduced their stakes in RCUS. Wellington Management Group LLP boosted its stake in Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after purchasing an additional 3,918,220 shares during the period. Marshall Wace LLP bought a new stake in Arcus Biosciences during the 4th quarter valued at approximately $80,731,000. Suvretta Capital Management LLC raised its holdings in Arcus Biosciences by 40.7% in the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after acquiring an additional 1,500,000 shares in the last quarter. Toronto Dominion Bank acquired a new position in Arcus Biosciences in the 4th quarter valued at approximately $35,380,000. Finally, Vanguard Group Inc. raised its holdings in Arcus Biosciences by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after acquiring an additional 1,333,421 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.