Arcus Biosciences (NYSE:RCUS) Sets New 52-Week Low – Here’s Why

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $13.51 and last traded at $13.65, with a volume of 227874 shares changing hands. The stock had previously closed at $14.20.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RCUS. Barclays increased their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a research report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Wells Fargo & Company initiated coverage on Arcus Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $34.00.

Arcus Biosciences Price Performance

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 stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -4.38 and a beta of 0.87. The stock’s 50 day simple moving average is $15.80 and its 200-day simple moving average is $15.97.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. During the same period last year, the company earned ($0.94) EPS. The firm’s revenue was up 50.0% on a year-over-year basis. On average, analysts expect that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction dated Tuesday, December 31st. The shares were 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 owns 60,138 shares in the company, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Arcus Biosciences

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in shares of Arcus Biosciences by 22.5% during the 2nd quarter. American Century Companies Inc. now owns 70,917 shares of the company’s stock worth $1,080,000 after acquiring an additional 13,019 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Arcus Biosciences by 3.3% in the second quarter. WINTON GROUP Ltd now owns 59,137 shares of the company’s stock worth $901,000 after purchasing an additional 1,872 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Arcus Biosciences by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 58,173 shares of the company’s stock valued at $886,000 after acquiring an additional 1,951 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Arcus Biosciences during the 2nd quarter valued at about $590,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Arcus Biosciences by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 120,099 shares of the company’s stock worth $1,829,000 after purchasing an additional 8,253 shares during the period. 92.89% of the stock is owned by institutional investors.

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.