Arcus Biosciences (NYSE:RCUS) Hits New 1-Year Low – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS) shares reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $17.09 and last traded at $17.2580, with a volume of 38,880 shares trading hands. The stock had previously closed at $17.77.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley set a $23.00 price target on shares of Arcus Biosciences in a report on Monday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Friday, September 11th. HC Wainwright upped their price objective on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. TD Cowen began coverage on shares of Arcus Biosciences in a research report on Wednesday, September 16th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Arcus Biosciences in a research note on Friday, August 7th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and an average price target of $39.36.

Arcus Biosciences Trading Down 3.3%

The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -4.73 and a beta of 1.04. The company has a fifty day moving average of $22.87 and a 200-day moving average of $24.46.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 4th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.11). The firm had revenue of $9.00 million for the quarter, compared to analyst estimates of $7.58 million. Arcus Biosciences had a negative net margin of 453.00% and a negative return on equity of 91.65%. Arcus Biosciences’s revenue was down 65.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.27) EPS. As a group, equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.47 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,827 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. BlackRock Inc. acquired a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $506,113,000. Aberdeen Group plc grew its position in shares of Arcus Biosciences by 62.4% in the third quarter. Aberdeen Group plc now owns 1,056,679 shares of the company’s stock valued at $27,294,000 after purchasing an additional 405,967 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new stake in shares of Arcus Biosciences in the second quarter valued at approximately $28,341,000. Bank of America Corp DE acquired a new stake in shares of Arcus Biosciences in the second quarter valued at approximately $25,759,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Arcus Biosciences in the second quarter valued at approximately $16,741,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Founded in 2015 and headquartered in Hayward, California, the company researches therapies that target immune pathways and other processes involved in tumor growth. Its pipeline consists of investigational medicines, including antibody and small-molecule candidates designed to be used alone or in combination. Arcus’s research has focused on areas such as checkpoint inhibition and the adenosine pathway; its candidates are under clinical development and are not established treatments.