Arcus Biosciences (NYSE:RCUS) Sets New 52-Week Low – Here’s What Happened

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $12.47 and last traded at $12.58, with a volume of 20999 shares. The stock had previously closed at $12.55.

Analyst Upgrades and Downgrades

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

Arcus Biosciences Stock Performance

The firm has a fifty day moving average price of $14.93 and a 200 day moving average price of $15.79. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.13 billion, a PE ratio of -3.91 and a beta of 0.84.

Insiders Place Their Bets

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.30% of the stock is owned by insiders.

Institutional Trading of Arcus Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC increased its position in shares of Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after acquiring an additional 610,219 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Arcus Biosciences by 32.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the last quarter. FMR LLC raised its position in Arcus Biosciences by 6.9% in the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock valued at $68,309,000 after purchasing an additional 286,766 shares during the period. Walleye Capital LLC acquired a new position in Arcus Biosciences during the third quarter worth $3,647,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Arcus Biosciences by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after buying an additional 186,750 shares during the period. 92.89% of the stock is currently 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.