Arcus Biosciences (NYSE:RCUS) Sets New 1-Year Low - Here's What Happened

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.75 and last traded at $8.81, with a volume of 50289 shares. The stock had previously closed at $9.12.

Analyst Upgrades and Downgrades

RCUS has been the topic of several analyst reports. Morgan Stanley dropped 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. Bank of America dropped their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and lifted their target price for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $30.25.

Arcus Biosciences Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The stock has a market capitalization of $858.45 million, a price-to-earnings ratio of -2.59 and a beta of 1.36. The stock's 50 day simple moving average is $11.11 and its 200-day simple moving average is $14.35.

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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, topping the consensus estimate of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. On average, analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Yasunori Kaneko purchased 20,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares of the company's stock, valued at approximately $285,704. The trade was a 238.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Terry J. Rosen acquired 19,800 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the purchase, the chief executive officer now directly owns 2,554,160 shares of the company's stock, valued at $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 currently owned by insiders.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Arcus Biosciences during the fourth quarter worth $26,000. Point72 Hong Kong Ltd acquired a new stake in Arcus Biosciences during the third quarter worth about $47,000. Lazard Asset Management LLC increased its stake in Arcus Biosciences by 3,321.3% during 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 during the period. US Bancorp DE raised its holdings in Arcus Biosciences by 2,432.0% in the 4th 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 position in shares of Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company's stock worth $144,000 after acquiring an additional 9,408 shares during the period. 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.