Arcus Biosciences (NYSE:RCUS) Reaches New 12-Month Low – What’s Next?

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

Wall Street Analysts Forecast Growth

RCUS has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Finally, Bank of America cut their target price on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Stock Performance

The company has a market cap of $809.04 million, a price-to-earnings ratio of -2.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company has a fifty day moving average of $10.86 and a two-hundred day moving average of $14.18.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The firm had revenue of $36.00 million for the quarter, compared to analyst estimates of $29.38 million. Equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insiders Place Their Bets

In other news, Director Yasunori Kaneko bought 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.06 per share, with a total value of $201,200.00. Following the transaction, the director now owns 28,400 shares of the company’s stock, valued at $285,704. This trade represents a 238.10 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.18 per share, with a total value of $201,564.00. Following the acquisition, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. The trade was a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of RCUS. R Squared Ltd acquired a new position in Arcus Biosciences in the fourth quarter valued at $26,000. Point72 Hong Kong Ltd bought a new position in shares of Arcus Biosciences in the 3rd quarter worth about $47,000. Lazard Asset Management LLC lifted its stake in shares of Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after purchasing an additional 6,078 shares during the period. US Bancorp DE lifted its stake in shares of Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after purchasing an additional 6,615 shares during the period. Finally, PEAK6 LLC acquired a new stake in Arcus Biosciences during the fourth quarter worth approximately $149,000. 92.89% of the stock is currently 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.