Arcus Biosciences (NYSE:RCUS) Reaches New 52-Week Low – Should You Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.01 and last traded at $9.42, with a volume of 1579786 shares changing hands. The stock had previously closed at $9.58.

Analysts Set New Price Targets

Several research firms have issued reports on RCUS. Morgan Stanley lowered their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Bank of America lowered their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, HC Wainwright raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Stock Performance

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 firm has a market cap of $990.29 million, a P/E ratio of -2.99 and a beta of 1.36. The firm’s fifty day moving average price is $12.67 and its 200 day moving average price is $15.10.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.17) by $0.14. The firm had revenue of $36.00 million during the quarter, compared to analyst estimates 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 expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 owns 60,138 shares in the company, valued at $902,070. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yasunori Kaneko acquired 20,000 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.06 per share, with a total value of $201,200.00. Following the purchase, the director now owns 28,400 shares in the company, valued at $285,704. This represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock valued at $506,000 after purchasing an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Arcus Biosciences by 2.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock valued at $471,000 after purchasing an additional 843 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Arcus Biosciences by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock valued at $668,000 after purchasing an additional 1,117 shares in the last quarter. R Squared Ltd acquired a new position in Arcus Biosciences during the 4th quarter valued at approximately $26,000. Finally, Teacher Retirement System of Texas increased its stake in Arcus Biosciences by 19.2% during the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after purchasing an additional 2,410 shares in the last quarter. Institutional investors and hedge funds 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.