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

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $7.56 and last traded at $7.73, with a volume of 70201 shares traded. The stock had previously closed at $8.17.

Analysts Set New Price Targets

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

Arcus Biosciences Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The business has a 50 day simple moving average of $11.11 and a 200-day simple moving average of $14.32. The firm has a market cap of $803.78 million, a price-to-earnings ratio of -2.43 and a beta of 1.36.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share (EPS) 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 analyst estimates of $29.38 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. Equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CEO Terry J. Rosen purchased 19,800 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.18 per share, with a total value of $201,564.00. Following the completion of the purchase, the chief executive officer now directly owns 2,554,160 shares of the company’s stock, valued at approximately $26,001,348.80. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yasunori Kaneko purchased 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, with a total value of $201,200.00. Following the transaction, the director now directly owns 28,400 shares in the company, valued at $285,704. This trade represents 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 owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Arcus Biosciences in the 4th quarter worth about $26,000. Point72 Hong Kong Ltd bought a new stake in shares of Arcus Biosciences in the 3rd quarter worth approximately $47,000. Lazard Asset Management LLC grew its stake in shares of Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after buying an additional 6,078 shares during the last quarter. US Bancorp DE increased its position in Arcus Biosciences by 2,432.0% during the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after buying an additional 6,615 shares in the last quarter. Finally, PEAK6 LLC purchased a new position in Arcus Biosciences during the fourth quarter valued at $149,000. 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.