Arcus Biosciences (NYSE:RCUS) Shares Down 5.5% - Here's What Happened

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price fell 5.5% on Monday . The stock traded as low as $7.73 and last traded at $7.73. 158,320 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 774,514 shares. The stock had previously closed at $8.18.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their target price for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Bank of America decreased their price target on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $30.25.

Arcus Biosciences Trading Up 0.4 %

The firm has a market capitalization of $829.01 million, a price-to-earnings ratio of -2.50 and a beta of 1.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company has a 50-day moving average price of $9.21 and a 200-day moving average price of $13.35.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.17) by $0.14. The business had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. As a group, research analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Arcus Biosciences in the 4th quarter worth approximately $26,000. Lazard Asset Management LLC increased 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 valued at $93,000 after purchasing an additional 6,078 shares during the last quarter. US Bancorp DE raised its holdings in shares of 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 purchasing an additional 6,615 shares during the period. Exchange Traded Concepts LLC raised its stake in Arcus Biosciences by 40.5% during the first quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock worth $109,000 after acquiring an additional 4,013 shares during the period. Finally, PEAK6 LLC acquired a new position in Arcus Biosciences in the fourth quarter valued at approximately $149,000. Institutional investors and hedge funds own 92.89% of the company's stock.

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.