Arcus Biosciences (NYSE:RCUS) Sets New 52-Week Low – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $9.64 and last traded at $9.65, with a volume of 969476 shares. The stock had previously closed at $10.50.

Wall Street Analysts Forecast Growth

RCUS has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Bank of America lowered their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley lowered their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Stock Performance

The company has a 50-day moving average price of $13.14 and a two-hundred day moving average price of $15.32. The stock has a market capitalization of $1.01 billion, a P/E ratio of -3.06 and a beta of 0.84. 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 (NYSE:RCUS) last issued its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million during the quarter, compared to analyst estimates of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Equities analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Activity

In other Arcus Biosciences news, Director Yasunori Kaneko bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares in the company, valued at $285,704. The trade was a 238.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Terry J. Rosen acquired 19,800 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.18 per share, with a total value of $201,564.00. Following the acquisition, the chief executive officer now owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently added to or reduced their stakes in RCUS. R Squared Ltd bought a new position in Arcus Biosciences in the fourth quarter worth $26,000. Point72 Hong Kong Ltd bought a new position in shares of Arcus Biosciences during the third quarter valued at $47,000. Lazard Asset Management LLC increased its holdings in shares of Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after acquiring an additional 6,078 shares in the last quarter. US Bancorp DE increased its holdings in shares of 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 acquiring an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 shares in the last quarter. 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.