Arcus Biosciences (NYSE:RCUS) Sets New 12-Month Low After Analyst Downgrade

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low on Wednesday after Bank of America lowered their price target on the stock from $22.00 to $17.00. Bank of America currently has a neutral rating on the stock. Arcus Biosciences traded as low as $10.65 and last traded at $11.00, with a volume of 4655000 shares traded. The stock had previously closed at $13.10.

A number of other analysts have also commented on the company. HC Wainwright dropped their price target on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays increased their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Insider Transactions at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Arcus Biosciences in the fourth quarter worth about $26,000. Point72 Hong Kong Ltd bought a new stake in Arcus Biosciences during the 3rd quarter worth approximately $47,000. Lazard Asset Management LLC raised its stake in Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after acquiring an additional 6,078 shares during the period. US Bancorp DE lifted its holdings in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares during the period. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 3.1 %

The stock has a market capitalization of $984.21 million, a PE ratio of -3.41 and a beta of 0.84. The stock’s 50 day moving average price is $14.02 and its 200-day moving average price is $15.56. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

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.