Arcus Biosciences (NYSE:RCUS) Trading 4.1% Higher - Here's What Happened

Shares of Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) were up 4.1% during mid-day trading on Monday . The company traded as high as $13.39 and last traded at $13.43. Approximately 157,561 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 594,659 shares. The stock had previously closed at $12.90.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RCUS shares. Barclays boosted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. HC Wainwright reissued a "neutral" rating and set a $20.00 price objective on shares of Arcus Biosciences in a report on Wednesday, November 6th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $32.67.

Arcus Biosciences Trading Down 3.8 %

The stock has a fifty day moving average of $14.99 and a two-hundred day moving average of $15.79. The company has a market capitalization of $1.19 billion, a PE ratio of -4.14 and a beta of 0.84. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $48.00 million for the quarter, compared to the consensus estimate of $38.95 million. During the same period last year, the firm posted ($0.94) earnings per share. The business's revenue was up 50.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares of the company's stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkman Healthcare Partners LLC increased its stake in Arcus Biosciences by 146.9% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company's stock worth $15,684,000 after purchasing an additional 610,219 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company's stock worth $37,263,000 after buying an additional 603,222 shares during the period. FMR LLC raised its holdings in Arcus Biosciences by 6.9% during the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company's stock valued at $68,309,000 after buying an additional 286,766 shares during the last quarter. Walleye Capital LLC purchased a new stake in Arcus Biosciences during the 3rd quarter valued at $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Arcus Biosciences by 25.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company's stock worth $14,236,000 after acquiring an additional 186,750 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.