Arcus Biosciences (NYSE:RCUS) Hits New 1-Year Low – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $7.56 and last traded at $7.73, with a volume of 70201 shares traded. The stock had previously closed at $8.17.

Analysts Set New Price Targets

RCUS has been the subject of a number of research reports. Bank of America decreased their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley lowered their target price 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, HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. One research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Stock Performance

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 company has a market cap of $803.78 million, a P/E ratio of -2.43 and a beta of 1.36. The business’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $14.32.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.17) by $0.14. The company had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Yasunori Kaneko acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.06 per share, with a total value of $201,200.00. Following 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 filing with the SEC, which is available through this link. Also, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on 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. The trade was a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in Arcus Biosciences in the 3rd quarter worth about $244,000. Charles Schwab Investment Management Inc. raised its stake in shares of Arcus Biosciences by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after acquiring an additional 59,536 shares in the last quarter. FMR LLC boosted its holdings in shares of Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Arcus Biosciences by 2.8% in 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. Finally, Martingale Asset Management L P purchased a new position in Arcus Biosciences during the 3rd quarter worth $251,000. 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.