Arcus Biosciences (NYSE:RCUS) Sees Large Volume Increase - Should You Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) saw strong trading volume on Tuesday . 594,986 shares were traded during 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.

Analyst Ratings Changes

RCUS has been the topic of several recent analyst reports. HC Wainwright reduced their price target on Arcus Biosciences from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday. Morgan Stanley reduced their target price on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a research note on Tuesday. 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. Bank of America reduced their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Wedbush restated an "outperform" rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.50.

Arcus Biosciences Stock Performance

The firm's fifty day moving average price is $13.92 and its 200 day moving average price is $15.55. The firm has a market cap of $1.01 billion, a P/E ratio of -3.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company's 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in Arcus Biosciences in the third quarter valued at approximately $47,000. Lazard Asset Management LLC boosted its stake in Arcus Biosciences by 3,321.3% in the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock valued at $93,000 after acquiring an additional 6,078 shares in the last quarter. US Bancorp DE grew its holdings in Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company's stock worth $103,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Quest Partners LLC increased its position 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 in the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.