Arcus Biosciences (NYSE:RCUS) Sets New 52-Week Low – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS) hit a new 52-week low during trading on Monday . The stock traded as low as $12.47 and last traded at $12.58, with a volume of 20999 shares. The stock had previously closed at $12.55.

Analyst Ratings Changes

A number of research firms recently weighed in on RCUS. Barclays upped their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. HC Wainwright reissued a “neutral” rating and set a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Finally, Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $32.67.

Arcus Biosciences Stock Down 2.0 %

The company’s 50 day simple moving average is $14.93 and its 200-day simple moving average is $15.79. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.13 billion, a P/E ratio of -3.91 and a beta of 0.84.

Insider Activity

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences 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 sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC lifted its holdings in Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after buying an additional 610,219 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the period. FMR LLC grew its position in shares of Arcus Biosciences by 6.9% during 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. Walleye Capital LLC purchased a new position in shares of Arcus Biosciences during the third quarter valued at $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.