Arcus Biosciences (NYSE:RCUS) Shares Down 6.9% – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS) shares were down 6.9% during trading on Wednesday . The stock traded as low as $22.12 and last traded at $22.0080. Approximately 290,485 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,182,166 shares. The stock had previously closed at $23.64.

Analysts Set New Price Targets

Several brokerages have issued reports on RCUS. Leerink Partners set a $47.00 target price on Arcus Biosciences in a research report on Monday, April 20th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research report on Monday, March 2nd. Morgan Stanley boosted their target price on Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Truist Financial began coverage on Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Arcus Biosciences Stock Down 3.2%

The company’s 50 day moving average price is $23.94 and its two-hundred day moving average price is $22.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.88 billion, a P/E ratio of -7.21 and a beta of 0.85.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.49 million. During the same period in the prior year, the firm posted ($1.14) EPS. The business’s revenue was down 39.3% on a year-over-year basis. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3.61 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,562 shares of Arcus Biosciences stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its stake in Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Arcus Biosciences by 13,547.6% in the third 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 in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Arcus Biosciences in the fourth quarter worth approximately $39,000. KBC Group NV bought a new position in Arcus Biosciences in the first quarter worth approximately $50,000. Finally, Strs Ohio bought a new position in Arcus Biosciences in the first quarter worth approximately $67,000. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.