Arcus Biosciences (NYSE:RCUS) Hits New 52-Week Low on Analyst Downgrade

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) reached a new 52-week low on Wednesday after Bank of America lowered their price target on the stock from $22.00 to $17.00. Bank of America currently has a neutral rating on the stock. Arcus Biosciences traded as low as $10.65 and last traded at $11.00, with a volume of 4655000 shares. The stock had previously closed at $13.10.

A number of other equities analysts have also recently commented on RCUS. Wedbush restated an "outperform" rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Barclays raised their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Friday, October 25th. HC Wainwright lowered their target price on Arcus Biosciences from $20.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Morgan Stanley lowered their target price on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $29.50.

Insider Buying and Selling 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 approximately $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock worth $506,000 after acquiring an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arcus Biosciences by 2.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company's stock worth $471,000 after buying an additional 843 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Arcus Biosciences by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after buying an additional 1,117 shares during the last quarter. R Squared Ltd purchased a new position in Arcus Biosciences during the 4th quarter worth approximately $26,000. Finally, Teacher Retirement System of Texas grew its stake in Arcus Biosciences by 19.2% during the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock worth $223,000 after buying an additional 2,410 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Arcus Biosciences Stock Up 3.0 %

The business has a 50 day moving average of $14.02 and a 200-day moving average of $15.56. The stock has a market cap of $1.01 billion, a PE ratio of -3.51 and a beta of 0.84. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

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.