Arcus Biosciences (NYSE:RCUS) Shares Down 5.1% - Should You Sell?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price traded down 5.1% during trading on Thursday . The company traded as low as $16.71 and last traded at $16.83. 81,491 shares changed hands during trading, a decline of 89% from the average session volume of 710,852 shares. The stock had previously closed at $17.74.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RCUS. Truist Financial cut their price target on Arcus Biosciences from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Monday, June 24th. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research report on Tuesday. They set an "overweight" rating and a $29.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Wedbush reissued an "outperform" rating and set a $30.00 price objective on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, Evercore ISI raised Arcus Biosciences to a "strong-buy" rating in a report on Friday, August 9th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $34.88.

Arcus Biosciences Stock Down 3.6 %

The firm has a market capitalization of $1.56 billion, a P/E ratio of -5.26 and a beta of 0.88. The stock has a fifty day simple moving average of $16.26 and a 200 day simple moving average of $16.04.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($1.02). Arcus Biosciences had a negative net margin of 100.81% and a negative return on equity of 42.86%. The business had revenue of $39.00 million during the quarter, compared to analyst estimates of $26.24 million. During the same period last year, the firm posted ($1.04) EPS. The company's revenue was up 34.5% on a year-over-year basis. Research analysts anticipate that Arcus Biosciences, Inc. will post -3.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently made changes to their positions in RCUS. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 4,680,716 shares of the company's stock worth $89,402,000 after buying an additional 186,898 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Arcus Biosciences by 26.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company's stock worth $12,933,000 after acquiring an additional 145,298 shares in the last quarter. SG Americas Securities LLC increased its stake in Arcus Biosciences by 1,396.1% during the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company's stock worth $1,969,000 after acquiring an additional 120,650 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Arcus Biosciences during the second quarter valued at approximately $1,286,000. Finally, Nordea Investment Management AB lifted its stake in shares of Arcus Biosciences by 26.3% in the 1st quarter. Nordea Investment Management AB now owns 259,372 shares of the company's stock valued at $4,892,000 after purchasing an additional 53,944 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.