Arcus Biosciences (NYSE:RCUS) Hits New 12-Month Low – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS) shares reached a new 52-week low on Tuesday . The stock traded as low as $8.95 and last traded at $9.15, with a volume of 1016238 shares changing hands. The stock had previously closed at $9.34.

Analysts Set New Price Targets

Several analysts have commented on RCUS shares. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Bank of America reduced their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Price Performance

The firm has a market cap of $962.43 million, a P/E ratio of -2.91 and a beta of 1.36. The business’s fifty day simple moving average is $12.13 and its 200-day simple moving average is $14.82. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million during the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. As a group, analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Terry J. Rosen purchased 19,800 shares of Arcus Biosciences stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.18 per share, with a total value of $201,564.00. Following the completion of the transaction, the chief executive officer now directly owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several institutional investors and hedge funds have recently modified their holdings of RCUS. R Squared Ltd bought a new position in shares of Arcus Biosciences in the fourth quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new position in shares of Arcus Biosciences in the 3rd quarter worth $47,000. Lazard Asset Management LLC raised its position in shares of Arcus Biosciences by 3,321.3% during the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after buying an additional 6,078 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after acquiring an additional 6,615 shares during the last quarter. Finally, Quest Partners LLC grew its position in 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 acquiring an additional 9,408 shares in the last quarter. Hedge funds and other 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.