Arcus Biosciences (NYSE:RCUS) Hits New 52-Week Low - Should You Sell?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.56 and last traded at $7.73, with a volume of 70201 shares traded. The stock had previously closed at $8.17.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RCUS. Morgan Stanley reduced their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Bank of America dropped their target price 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. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $30.25.

Arcus Biosciences Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company's fifty day moving average is $10.62 and its two-hundred day moving average is $14.09. The company has a market cap of $722.30 million, a price-to-earnings ratio of -2.18 and a beta of 1.54.

Remove Ads

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts' consensus estimates of ($1.17) by $0.14. The firm had revenue of $36.00 million for the quarter, compared to analysts' expectations of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. On average, research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors have recently modified their holdings of the business. Gilead Sciences Inc. purchased a new position in Arcus Biosciences in the fourth quarter valued at $447,610,000. Boxer Capital Management LLC purchased a new position in shares of Arcus Biosciences in the 4th quarter valued at about $23,857,000. Braidwell LP acquired a new position in shares of Arcus Biosciences during the fourth quarter worth about $11,943,000. Millennium Management LLC grew its position in shares of Arcus Biosciences by 277.1% during the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company's stock worth $13,764,000 after buying an additional 679,267 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company's stock valued at $37,263,000 after acquiring an additional 603,222 shares in the last quarter. Institutional investors and hedge funds 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.