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

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report)'s share price hit a new 52-week low on Wednesday . The company traded as low as $9.64 and last traded at $9.65, with a volume of 969476 shares traded. The stock had previously closed at $10.50.

Analyst Ratings Changes

A number of brokerages have issued reports on RCUS. HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Morgan Stanley decreased 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 dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $30.25.

Arcus Biosciences Stock 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 company has a market cap of $1.01 billion, a price-to-earnings ratio of -3.04 and a beta of 1.36. The firm has a 50 day simple moving average of $12.78 and a 200-day simple moving average of $15.18.

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. As a group, analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

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Insider Transactions at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the transaction, the chief financial officer now directly owns 60,138 shares of the company's stock, valued at $902,070. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Terry J. Rosen acquired 19,800 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the acquisition, the chief executive officer now owns 2,554,160 shares of the company's stock, valued at $26,001,348.80. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently bought and sold shares of RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Arcus Biosciences by 2.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after buying an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company's stock worth $471,000 after purchasing an additional 843 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arcus Biosciences by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after purchasing an additional 1,117 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Arcus Biosciences during the fourth quarter worth $26,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Arcus Biosciences by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock valued at $223,000 after acquiring an additional 2,410 shares in the last quarter. Hedge funds and other institutional investors 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.