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

Arcus Biosciences, Inc. (NYSE:RCUS) shares hit a new 52-week low during mid-day 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.

Analysts Set New Price Targets

A number of brokerages recently commented on RCUS. Morgan Stanley lowered their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. Bank of America dropped 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 note on Wednesday, February 19th. Finally, HC Wainwright reduced their price objective on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.50.

Arcus Biosciences Stock Down 8.2 %

The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.07 billion, a P/E ratio of -3.23 and a beta of 0.84. The firm’s 50 day moving average is $13.79 and its two-hundred day moving average is $15.54.

Insider Transactions at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction dated 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 owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd bought a new position in Arcus Biosciences in the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of Arcus Biosciences during the third quarter worth $47,000. Lazard Asset Management LLC lifted its position in Arcus Biosciences by 3,321.3% in the 4th 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 boosted its stake in Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares during the period. Finally, Quest Partners LLC increased its holdings in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.