Arcus Biosciences Sees Unusually High Options Volume (NYSE:RCUS)

Arcus Biosciences, Inc. (NYSE:RCUS) saw unusually large options trading on Wednesday. Traders bought 34,803 call options on the company. This represents an increase of 6,369% compared to the average volume of 538 call options.

Arcus Biosciences Trading Up 3.2%

Shares of RCUS stock opened at $9.37 on Friday. The firm has a market cap of $992.14 million, a P/E ratio of -2.97 and a beta of 0.83. Arcus Biosciences has a 1-year low of $6.50 and a 1-year high of $18.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm’s 50-day simple moving average is $8.59 and its 200-day simple moving average is $11.31.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, May 6th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.12). Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $28.00 million during the quarter, compared to analyst estimates of $38.61 million. During the same quarter in the previous year, the business posted ($0.05) EPS. Arcus Biosciences’s revenue was down 80.7% compared to the same quarter last year. As a group, equities analysts forecast that Arcus Biosciences will post -3.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Arcus Biosciences in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Arcus Biosciences from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Barclays cut their price target on Arcus Biosciences from $29.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Bank of America cut their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. Strs Ohio acquired a new position in Arcus Biosciences in the first quarter valued at $67,000. E Fund Management Co. Ltd. purchased a new stake in Arcus Biosciences during the first quarter worth approximately $82,000. Lazard Asset Management LLC grew its stake in Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after buying an additional 6,078 shares during the period. Knott David M Jr purchased a new stake in Arcus Biosciences during the first quarter worth approximately $94,000. Finally, US Bancorp DE grew its stake in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after buying an additional 6,615 shares during the period. 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.