Arcus Biosciences (NYSE:RCUS) Stock Price Down 6.5%

Arcus Biosciences, Inc. (NYSE:RCUS) was down 6.5% on Tuesday . The company traded as low as $14.30 and last traded at $14.30. Approximately 143,559 shares changed hands during trading, a decline of 82% from the average daily volume of 788,921 shares. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RCUS shares. Citigroup lifted their target price on Arcus Biosciences from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Truist Financial decreased their target price on Arcus Biosciences from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Arcus Biosciences Price Performance

The stock has a fifty day moving average price of $15.95 and a 200-day moving average price of $16.81.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.92. Arcus Biosciences had a negative return on equity of 40.98% and a negative net margin of 97.47%. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $28.77 million. During the same period in the previous year, the business earned ($1.09) EPS. The firm’s revenue for the quarter was up 480.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -2.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in Arcus Biosciences by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after buying an additional 1,906 shares during the last quarter. Vanguard Group Inc. grew its stake in Arcus Biosciences by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after buying an additional 110,528 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Arcus Biosciences by 16.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,492 shares of the company’s stock worth $319,000 after buying an additional 2,420 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Arcus Biosciences by 26.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 685,025 shares of the company’s stock worth $12,933,000 after buying an additional 145,298 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Arcus Biosciences by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock valued at $205,000 after purchasing an additional 746 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.