Arcus Biosciences (NYSE:RCUS) Shares Gap Down – Time to Sell?

by · The Markets Daily

Shares of Arcus Biosciences, Inc. (NYSE:RCUS – Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $25.14, but opened at $21.15. Arcus Biosciences shares last traded at $23.6880, with a volume of 2,585,998 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RCUS shares. HC Wainwright increased their price objective on shares of Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup raised their price target on Arcus Biosciences from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company lifted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, Truist Financial set a $30.00 target price on Arcus Biosciences in a research report on Friday. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.89.

View Our Latest Analysis on Arcus Biosciences

Arcus Biosciences Trading Down 11.6%

The company has a fifty day simple moving average of $20.20 and a two-hundred day simple moving average of $13.59. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.40 billion, a PE ratio of -6.46 and a beta of 0.75.

Arcus Biosciences (NYSE:RCUS – Get Free Report) last released its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same period in the prior year, the firm earned ($1.00) earnings per share. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. Analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Activity

In other Arcus Biosciences news, President Juan C. Jaen sold 82,997 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total value of $2,050,855.87. Following the sale, the president directly owned 954,063 shares in the company, valued at $23,574,896.73. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert C. Goeltz II sold 5,000 shares of Arcus Biosciences stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the chief financial officer directly owned 92,138 shares of the company’s stock, valued at $1,842,760. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 294,193 shares of company stock valued at $6,098,761 in the last 90 days. Company insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in RCUS. GAMMA Investing LLC lifted its stake in Arcus Biosciences by 59.1% during the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after purchasing an additional 1,021 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after buying an additional 2,845 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Arcus Biosciences during the 3rd quarter worth approximately $69,000. CWM LLC boosted its holdings in shares of Arcus Biosciences by 233.6% in the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after buying an additional 3,810 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Arcus Biosciences by 34.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after buying an additional 1,796 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

(Get Free Report)

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.

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