Arcus Biosciences, Inc. (NYSE:RCUS – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.53 and last traded at $13.20, with a volume of 872657 shares changing hands. The stock had previously closed at $12.90.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on RCUS shares. HC Wainwright reiterated a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Barclays boosted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research 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 report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $32.67.
Read Our Latest Report on RCUS
Arcus Biosciences Price Performance
Arcus Biosciences (NYSE:RCUS – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same quarter in the previous year, the company posted ($0.94) EPS. The business’s revenue for the quarter was up 50.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.2 EPS for the current year.
Insider Activity
In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Arcus Biosciences
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in shares of Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after buying an additional 6,615 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Arcus Biosciences by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 381,615 shares of the company’s stock valued at $5,682,000 after purchasing an additional 30,290 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Arcus Biosciences by 11.2% in the 4th quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock valued at $369,000 after purchasing an additional 2,500 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Arcus Biosciences by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 263,517 shares of the company’s stock valued at $3,924,000 after purchasing an additional 7,906 shares during the period. Finally, R Squared Ltd bought a new position in Arcus Biosciences in the 4th quarter valued at about $26,000. 92.89% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Arcus Biosciences
- Stock Sentiment Analysis: How it Works
- 3 Must-Have ETFs Set to Dominate This Quarter
- What is Put Option Volume?
- Seeking Stability? These 3 Stocks Offer Strong Potential
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Trade War Bargain Stocks: Top 3 Picks Too Good to Pass Up
Receive News & Ratings for Arcus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.