Arcus Biosciences (NYSE:RCUS) Sees Large Volume Increase - What's Next?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) shares saw strong trading volume on Thursday . 566,048 shares were traded during trading, a decline of 21% from the previous session's volume of 720,844 shares.The stock last traded at $17.38 and had previously closed at $17.33.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wells Fargo & Company initiated coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They set an "overweight" rating and a $29.00 price objective on the stock. Evercore ISI upgraded shares of Arcus Biosciences to a "strong-buy" rating in a research note on Friday, August 9th. Wedbush reissued an "outperform" rating and set a $30.00 target price on shares of Arcus Biosciences in a research report on Thursday, October 3rd. Finally, Barclays cut their price target on Arcus Biosciences from $35.00 to $25.00 and set an "overweight" rating for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $33.22.

Arcus Biosciences Stock Performance

The business's 50 day simple moving average is $16.85 and its 200 day simple moving average is $16.04.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, meeting the consensus estimate of ($1.02). Arcus Biosciences had a negative return on equity of 42.86% and a negative net margin of 100.81%. The business had revenue of $39.00 million for the quarter, compared to analyst estimates of $26.24 million. During the same quarter in the previous year, the firm earned ($1.04) EPS. Arcus Biosciences's quarterly revenue was up 34.5% on a year-over-year basis. On average, equities analysts expect that Arcus Biosciences, Inc. will post -3.25 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. GAMMA Investing LLC raised its stake in shares of Arcus Biosciences by 51.6% in the first quarter. GAMMA Investing LLC now owns 2,427 shares of the company's stock valued at $46,000 after acquiring an additional 826 shares during the last quarter. Headlands Technologies LLC bought a new position in Arcus Biosciences in the 1st quarter valued at $59,000. Innealta Capital LLC acquired a new position in Arcus Biosciences in the second quarter worth $66,000. Point72 DIFC Ltd bought a new stake in shares of Arcus Biosciences during the second quarter worth $83,000. Finally, ProShare Advisors LLC grew its holdings in shares of Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company's stock worth $205,000 after purchasing an additional 746 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.