Arcus Biosciences (NYSE:RCUS) Reaches New 12-Month Low - Here's What Happened

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $13.40 and last traded at $13.41, with a volume of 991419 shares changing hands. The stock had previously closed at $14.14.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RCUS. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wedbush reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright restated a "neutral" rating and set a $20.00 price objective on shares of Arcus Biosciences in a report on Wednesday, November 6th. Barclays lifted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company began coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They issued an "overweight" rating and a $29.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences presently has a consensus rating of "Buy" and an average price target of $34.00.

Arcus Biosciences Trading Down 0.6 %

The firm has a market cap of $1.22 billion, a P/E ratio of -4.23 and a beta of 0.87. The company has a 50 day moving average of $15.40 and a 200 day moving average of $15.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $48.00 million for the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the previous year, the firm posted ($0.94) EPS. The business's revenue was up 50.0% compared to the same quarter last year. Analysts predict that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction 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 in the company, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Arcus Biosciences by 6.9% in the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company's stock worth $68,309,000 after buying an additional 286,766 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company's stock worth $37,263,000 after acquiring an additional 603,222 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in shares of Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company's stock valued at $15,684,000 after acquiring an additional 610,219 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Arcus Biosciences by 25.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company's stock valued at $14,236,000 after purchasing an additional 186,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Arcus Biosciences by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company's stock worth $8,669,000 after purchasing an additional 59,536 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.