Arcus Biosciences (NYSE:RCUS) Hits New 52-Week Low – Here’s Why

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a “neutral” rating and issued a $20.00 price objective on shares of Arcus Biosciences in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Wells Fargo & Company began coverage on Arcus Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. Barclays increased their price target on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $34.00.

Arcus Biosciences Price Performance

The company has a market cap of $1.23 billion, a price-to-earnings ratio of -4.26 and a beta of 0.87. 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 fifty day moving average price of $15.40 and a two-hundred day moving average price of $15.92.

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

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was 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 $902,070. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Arcus Biosciences by 22.5% in the second quarter. American Century Companies Inc. now owns 70,917 shares of the company’s stock valued at $1,080,000 after buying an additional 13,019 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Arcus Biosciences by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 120,099 shares of the company’s stock worth $1,829,000 after acquiring an additional 8,253 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Arcus Biosciences in the 2nd quarter worth approximately $83,000. Cubist Systematic Strategies LLC bought a new stake in Arcus Biosciences during the 2nd quarter worth approximately $1,286,000. Finally, Squarepoint Ops LLC acquired a new stake in Arcus Biosciences during the 2nd quarter valued at $254,000. 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.