Arcus Biosciences (NYSE:RCUS) Hits New 12-Month Low – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $10.12 and last traded at $10.16, with a volume of 1208651 shares changing hands. The stock had previously closed at $11.07.

Analyst Ratings Changes

A number of analysts have commented on the company. 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 research report on Wednesday, February 19th. 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 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, HC Wainwright reduced their price objective on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Arcus Biosciences Stock 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 fifty day simple moving average of $13.79 and a 200-day simple moving average of $15.54. The company has a market capitalization of $1.07 billion, a P/E ratio of -3.23 and a beta of 0.84.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Woodline Partners LP raised its holdings in shares of Arcus Biosciences by 1.3% in 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. Two Sigma Advisers LP increased its position in Arcus Biosciences by 35.8% in the 4th quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock valued at $876,000 after acquiring an additional 15,500 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Arcus Biosciences by 8.1% in the fourth quarter. Two Sigma Investments LP now owns 146,686 shares of the company’s stock worth $2,184,000 after acquiring an additional 11,027 shares during the last quarter. Tema Etfs LLC acquired a new position in shares of Arcus Biosciences during the fourth quarter worth approximately $331,000. Finally, ProShare Advisors LLC grew its stake in shares of Arcus Biosciences by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 16,379 shares of the company’s stock valued at $244,000 after purchasing an additional 5,038 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.