Arcus Biosciences (NYSE:RCUS) Sets New 52-Week Low – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $8.75 and last traded at $8.81, with a volume of 50289 shares changing hands. The stock had previously closed at $9.12.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RCUS shares. HC Wainwright upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Morgan Stanley lowered their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Bank of America cut their price target on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Trading Down 7.9 %

The company’s 50-day simple moving average is $11.57 and its 200 day simple moving average is $14.55. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $882.63 million, a PE ratio of -2.67 and a beta of 1.36.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Buying and Selling

In other Arcus Biosciences news, Director Yasunori Kaneko purchased 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the purchase, the director now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Terry J. Rosen acquired 19,800 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the acquisition, the chief executive officer now owns 2,554,160 shares of the company’s stock, valued at approximately $26,001,348.80. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently made changes to their positions in RCUS. R Squared Ltd acquired a new stake in shares of Arcus Biosciences during the fourth quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new stake in shares of Arcus Biosciences in the 3rd quarter valued at $47,000. Lazard Asset Management LLC increased its stake in shares of Arcus Biosciences by 3,321.3% in the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after acquiring an additional 6,078 shares during the period. US Bancorp DE raised its holdings in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after purchasing an additional 9,408 shares during the last quarter. 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.