Arcus Biosciences (NYSE:RCUS) Stock Price Up 4.2% – Still a Buy?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price traded up 4.2% on Tuesday . The company traded as high as $15.19 and last traded at $15.17. 105,065 shares were traded during mid-day trading, a decline of 86% from the average session volume of 729,583 shares. The stock had previously closed at $14.56.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price target for the company. Barclays lifted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Evercore ISI raised shares of Arcus Biosciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Stock Up 0.1 %

The company has a market cap of $1.45 billion, a price-to-earnings ratio of -5.02 and a beta of 0.89. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $16.30 and its 200-day moving average price is $16.05.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. During the same quarter in the previous year, the business earned ($0.94) EPS. The firm’s revenue was up 50.0% on a year-over-year basis. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in RCUS. Point72 Hong Kong Ltd bought a new stake in Arcus Biosciences in the 3rd quarter valued at $47,000. Innealta Capital LLC bought a new stake in Arcus Biosciences in the 2nd quarter valued at $66,000. Point72 DIFC Ltd bought a new stake in Arcus Biosciences in the 2nd quarter valued at $83,000. Quest Partners LLC lifted its position in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 shares in the last quarter. Finally, Diversified Trust Co lifted its position in Arcus Biosciences by 12.1% in the 2nd quarter. Diversified Trust Co now owns 13,545 shares of the company’s stock valued at $206,000 after acquiring an additional 1,467 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.