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

Arcus Biosciences, Inc. (NYSE:RCUS) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.50 and last traded at $6.61, with a volume of 96076 shares trading hands. The stock had previously closed at $6.87.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RCUS shares. Bank of America cut their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley cut their price target 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. Finally, HC Wainwright upgraded 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 report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Trading Up 5.7 %

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 business has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $13.98. The company has a market cap of $763.72 million, a PE ratio of -2.31 and a beta of 1.54.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.14. The business had revenue of $36.00 million for the quarter, compared to analysts’ expectations of $29.38 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. On average, analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Terry J. Rosen purchased 19,800 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.18 per share, for a total transaction of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at $26,001,348.80. The trade was a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yasunori Kaneko purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the purchase, the director now directly owns 28,400 shares in the company, valued at $285,704. The trade was 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 insiders.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after acquiring an additional 59,536 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock worth $471,000 after acquiring an additional 843 shares during the period. Jane Street Group LLC raised its holdings in Arcus Biosciences by 59.8% during the third quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock worth $3,319,000 after purchasing an additional 81,193 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in Arcus Biosciences by 100.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 23,581 shares of the company’s stock valued at $361,000 after purchasing an additional 11,827 shares during the period. Finally, Barclays PLC boosted its holdings in Arcus Biosciences by 49.0% in the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock valued at $1,816,000 after purchasing an additional 39,015 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.