Arcus Biosciences (NYSE:RCUS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) saw an uptick in trading volume on Tuesday . 594,986 shares traded hands during mid-day trading, a decline of 1% from the previous session’s volume of 602,300 shares.The stock last traded at $11.18 and had previously closed at $13.10.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RCUS shares. Barclays lifted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright reduced their target price on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday. Morgan Stanley cut their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Bank of America cut their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Arcus Biosciences Trading Down 3.1 %

The company’s 50 day moving average price is $14.15 and its two-hundred day moving average price is $15.60. 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 stock has a market capitalization of $984.21 million, a PE ratio of -3.41 and a beta of 0.84.

Insider Buying and Selling at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences 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 in the company, valued at $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its position in shares of Arcus Biosciences by 59.8% during the 3rd quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after buying an additional 81,193 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after buying an additional 59,536 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Arcus Biosciences by 17.8% during the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock worth $2,866,000 after buying an additional 28,307 shares during the last quarter. Parkman Healthcare Partners LLC lifted its position in shares of Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after buying an additional 610,219 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Arcus Biosciences by 49.0% during the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock worth $1,816,000 after buying an additional 39,015 shares during the last quarter. Hedge funds and other 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.