Arcus Biosciences (NYSE:RCUS) Stock Price Down 5.8% – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price traded down 5.8% during mid-day trading on Tuesday . The stock traded as low as $9.95 and last traded at $9.90. 387,331 shares traded hands during trading, a decline of 45% from the average session volume of 708,444 shares. The stock had previously closed at $10.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Bank of America dropped their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences has a consensus rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Stock Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of -3.06 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $15.36.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. On average, analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yasunori Kaneko bought 20,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at $285,704. The trade was 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 owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently made changes to their positions in the business. Gilead Sciences Inc. purchased a new stake in Arcus Biosciences in the fourth quarter valued at about $447,610,000. FMR LLC increased its holdings in shares of Arcus Biosciences by 6.9% during the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after acquiring an additional 286,766 shares in the last quarter. Woodline Partners LP raised its position in shares of Arcus Biosciences by 1.3% in the 4th quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock valued at $52,471,000 after purchasing an additional 45,497 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Arcus Biosciences by 32.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Arcus Biosciences by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after purchasing an additional 178,351 shares in the last quarter. 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.