Arcus Biosciences (NYSE:RCUS) Shares Gap Down – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RCUS shares. Wells Fargo & Company lifted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Bank of America lifted their price target on shares of Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a report on Friday. Finally, Wedbush set a $35.00 target price on Arcus Biosciences and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.89.

Arcus Biosciences Stock Performance

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’s 50-day moving average is $20.36 and its two-hundred day moving average is $13.71. The stock has a market capitalization of $2.33 billion, a P/E ratio of -6.27 and a beta of 0.75.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, topping the consensus estimate of ($1.33) by $0.06. The firm had revenue of $26.00 million during the quarter, compared to analysts’ expectations of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. Arcus Biosciences’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.00) EPS. As a group, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, President Juan C. Jaen sold 82,997 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total transaction of $2,050,855.87. Following the completion of the transaction, the president owned 954,063 shares in the company, valued at approximately $23,574,896.73. The trade was a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alexander Azoy sold 1,900 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $26.00, for a total value of $49,400.00. Following the completion of the transaction, the chief accounting officer directly owned 27,363 shares of the company’s stock, valued at approximately $711,438. The trade was a 6.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,193 shares of company stock valued at $6,098,761 in the last quarter. 9.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the stock. Amalgamated Bank raised its position in shares of Arcus Biosciences by 3.9% during the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock worth $266,000 after buying an additional 736 shares in the last quarter. Creative Planning raised its holdings in Arcus Biosciences by 2.7% during the third quarter. Creative Planning now owns 29,629 shares of the company’s stock worth $403,000 after purchasing an additional 771 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Arcus Biosciences by 8.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,398 shares of the company’s stock worth $142,000 after purchasing an additional 1,294 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Arcus Biosciences by 1.6% during the 2nd quarter. Parallel Advisors LLC now owns 88,007 shares of the company’s stock valued at $716,000 after purchasing an additional 1,422 shares in the last quarter. Institutional investors and hedge funds 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.