Arcus Biosciences (NYSE:RCUS) Hits New 52-Week Low – What’s Next?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $12.53 and last traded at $13.20, with a volume of 872657 shares changing hands. The stock had previously closed at $12.90.

Analysts Set New Price Targets

RCUS has been the topic of a number of analyst reports. Barclays increased their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a research report on Wednesday, November 6th. Finally, Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has an average rating of “Buy” and a consensus price target of $32.67.

Arcus Biosciences Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The business’s 50-day simple moving average is $15.05 and its two-hundred day simple moving average is $15.81.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The firm had revenue of $48.00 million for the quarter, compared to analyst estimates of $38.95 million. During the same quarter last year, the business posted ($0.94) earnings per share. The company’s quarterly revenue was up 50.0% on a year-over-year basis. Equities analysts anticipate that Arcus Biosciences, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of RCUS. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arcus Biosciences by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock valued at $471,000 after buying an additional 843 shares during the period. JPMorgan Chase & Co. lifted its holdings in Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock valued at $668,000 after buying an additional 1,117 shares during the period. R Squared Ltd acquired a new position in Arcus Biosciences in the fourth quarter valued at $26,000. The Manufacturers Life Insurance Company lifted its holdings in Arcus Biosciences by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock valued at $455,000 after buying an additional 2,123 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of Arcus Biosciences by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock valued at $369,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 92.89% of the company’s stock.

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.