Arcus Biosciences (NYSE:RCUS) Sets New 12-Month Low – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price reached 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 traded. The stock had previously closed at $10.50.

Analysts Set New Price Targets

A number of analysts recently weighed in on RCUS shares. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research report on Thursday, November 7th. Bank of America reduced their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Morgan Stanley reduced their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Trading Up 1.9 %

The company has a market capitalization of $1.05 billion, a PE ratio of -3.17 and a beta of 1.36. The company’s fifty day moving average is $13.01 and its 200-day moving average is $15.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million for the quarter, compared to analyst estimates 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 anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Terry J. Rosen bought 19,800 shares of the 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 completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several institutional investors have recently bought and sold shares of RCUS. R Squared Ltd acquired a new stake in Arcus Biosciences in the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd acquired a new stake in Arcus Biosciences in the third quarter valued at approximately $47,000. Lazard Asset Management LLC boosted its stake in Arcus Biosciences by 3,321.3% in 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 boosted its stake in Arcus Biosciences by 2,432.0% in 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 lifted its stake 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 worth $144,000 after buying an additional 9,408 shares during the period. 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.