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

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $6.50 and last traded at $6.61, with a volume of 96076 shares trading hands. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Morgan Stanley cut their price objective on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Finally, Bank of America decreased their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Arcus Biosciences has an average rating of "Buy" and an average target price of $30.25.

Arcus Biosciences Stock Performance

The firm has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $13.60. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The company has a market cap of $850.04 million, a PE ratio of -2.57 and a beta of 1.54.

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Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.17) by $0.14. The firm had revenue of $36.00 million for the quarter, compared to the consensus estimate 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 forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Arcus Biosciences by 14.8% during the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company's stock worth $1,436,000 after purchasing an additional 23,645 shares during the last quarter. GAMMA Investing LLC increased its position in Arcus Biosciences by 1,399.6% during the first quarter. GAMMA Investing LLC now owns 16,571 shares of the company's stock worth $1,300,000 after buying an additional 15,466 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Arcus Biosciences by 1.3% in the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company's stock worth $52,471,000 after acquiring an additional 45,497 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Arcus Biosciences by 35.8% in the fourth quarter. Two Sigma Advisers LP now owns 58,800 shares of the company's stock valued at $876,000 after acquiring an additional 15,500 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Arcus Biosciences by 8.1% during the fourth quarter. Two Sigma Investments LP now owns 146,686 shares of the company's stock valued at $2,184,000 after acquiring an additional 11,027 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

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.