Arcus Biosciences (NYSE:RCUS) Sets New 52-Week Low – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low on Tuesday . The stock traded as low as $8.75 and last traded at $8.81, with a volume of 50289 shares trading hands. The stock had previously closed at $9.12.

Analyst Ratings Changes

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

Arcus Biosciences Price Performance

The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock has a market cap of $866.86 million, a P/E ratio of -2.62 and a beta of 1.36. The firm has a 50 day moving average price of $11.34 and a 200 day moving average price of $14.45.

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

Insider Activity

In related news, Director Yasunori Kaneko acquired 20,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.06 per share, with a total value of $201,200.00. Following the acquisition, the director now directly owns 28,400 shares in the company, valued at $285,704. This represents a 238.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This trade represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gilead Sciences Inc. bought a new position in shares of Arcus Biosciences during the 4th quarter valued at about $447,610,000. FMR LLC lifted its position in shares of Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after buying an additional 286,766 shares in the last quarter. Woodline Partners LP boosted its stake in Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock valued at $52,471,000 after buying an additional 45,497 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in 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 buying an additional 603,222 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Arcus Biosciences by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock valued at $25,348,000 after buying an additional 178,351 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.