Arcus Biosciences (NYSE:RCUS) Reaches New 12-Month Low – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $12.47 and last traded at $12.58, with a volume of 20999 shares trading hands. The stock had previously closed at $12.55.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RCUS. Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a research report on Wednesday, November 6th. Finally, Barclays raised their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.67.

Arcus Biosciences Stock Performance

The business’s 50-day simple moving average is $14.78 and its 200-day simple moving average is $15.75. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now owns 60,138 shares in the company, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of large investors have recently made changes to their positions in the company. Parkman Healthcare Partners LLC grew its stake in Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after acquiring an additional 610,219 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Arcus Biosciences by 32.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares in the last quarter. FMR LLC grew its position in shares of Arcus Biosciences by 6.9% in the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the period. Walleye Capital LLC bought a new stake in Arcus Biosciences during the 3rd quarter worth approximately $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Arcus Biosciences by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares during the period. Institutional investors 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.