Arcus Biosciences (NYSE:RCUS) Shares Gap Down – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) gapped down before the market opened on Monday . The stock had previously closed at $9.34, but opened at $9.14. Arcus Biosciences shares last traded at $9.11, with a volume of 32,631 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RCUS. 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 research note on Wednesday, February 19th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Finally, Morgan Stanley dropped their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Price Performance

The company’s 50 day moving average price is $12.25 and its 200-day moving average price is $14.87. The stock has a market cap of $949.40 million, a P/E ratio of -2.86 and a beta of 1.36. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. As a group, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yasunori Kaneko purchased 20,000 shares of Arcus Biosciences stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, with a total value of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This trade represents a 238.10 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently bought and sold shares of RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arcus Biosciences by 2.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock valued at $506,000 after buying an additional 833 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock valued at $471,000 after buying an additional 843 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock valued at $668,000 after buying an additional 1,117 shares during the last quarter. R Squared Ltd acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at about $26,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Arcus Biosciences by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after buying an additional 2,410 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.