Arcus Biosciences (NYSE:RCUS) Reaches New 1-Year Low - Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.01 and last traded at $9.42, with a volume of 1579786 shares traded. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

Several research firms recently commented on RCUS. HC Wainwright upgraded shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and raised their price target for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a 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 on the stock in a research report on Wednesday, February 19th. One equities 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $30.25.

Arcus Biosciences Stock Down 2.0 %

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 business has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $15.01. The firm has a market capitalization of $982.51 million, a price-to-earnings ratio of -2.97 and a beta of 1.36.

Remove Ads

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings data 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. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. On average, equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

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 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Terry J. Rosen acquired 19,800 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.18 per share, with a total value of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently bought and sold shares of RCUS. Woodline Partners LP grew its stake in shares of Arcus Biosciences by 1.3% in the 4th quarter. Woodline Partners LP now owns 3,523,937 shares of the company's stock valued at $52,471,000 after purchasing an additional 45,497 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Arcus Biosciences by 35.8% during the fourth quarter. Two Sigma Advisers LP now owns 58,800 shares of the company's stock worth $876,000 after acquiring an additional 15,500 shares during the period. Two Sigma Investments LP raised its position in Arcus Biosciences by 8.1% in the fourth quarter. Two Sigma Investments LP now owns 146,686 shares of the company's stock worth $2,184,000 after acquiring an additional 11,027 shares in the last quarter. Tema Etfs LLC acquired a new stake in Arcus Biosciences in the fourth quarter valued at $331,000. Finally, ProShare Advisors LLC boosted its position in shares of Arcus Biosciences by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 16,379 shares of the company's stock worth $244,000 after purchasing an additional 5,038 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.