Arcus Biosciences (NYSE:RCUS) Sets New 12-Month Low – Should You Sell?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) hit a new 52-week low during trading on Tuesday . The company 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 Analysts Forecast Growth

RCUS has been the topic of a number of research reports. Bank of America cut 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 report on Wednesday, February 19th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their price target 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. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences presently has an average rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Stock Performance

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -3.10 and a beta of 1.36. The company’s fifty day simple moving average is $12.47 and its 200 day simple moving average is $15.01. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating 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 business had revenue of $36.00 million for the quarter, compared to the consensus estimate of $29.38 million. On average, equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In other news, Director Yasunori Kaneko acquired 20,000 shares of Arcus Biosciences stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction dated Tuesday, December 31st. The stock was 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 trade represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RCUS. Gilead Sciences Inc. bought a new position in Arcus Biosciences in the 4th quarter valued at approximately $447,610,000. Boxer Capital Management LLC bought a new position in Arcus Biosciences in the 4th quarter valued at approximately $23,857,000. Braidwell LP bought a new position in Arcus Biosciences in the 4th quarter valued at approximately $11,943,000. Millennium Management LLC raised its holdings in Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock valued at $13,764,000 after buying an additional 679,267 shares during the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in Arcus Biosciences by 146.9% in 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 during the last quarter. Institutional investors 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.