Arcus Biosciences (NYSE:RCUS) Reaches New 52-Week Low – Should You Sell?

Arcus Biosciences, Inc. (NYSE:RCUS) shares reached a new 52-week low on Tuesday . The company traded as low as $10.12 and last traded at $10.16, with a volume of 1208651 shares. The stock had previously closed at $11.07.

Analysts Set New Price Targets

RCUS has been the topic of a number of research reports. Bank of America decreased their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley decreased their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, 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 report on Wednesday. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Trading Down 2.7 %

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 company’s 50 day simple moving average is $13.57 and its 200 day simple moving average is $15.46. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -3.13 and a beta of 0.84.

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

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. Gilead Sciences Inc. acquired a new position in shares of Arcus Biosciences during the fourth quarter worth about $447,610,000. Boxer Capital Management LLC acquired a new position in shares of Arcus Biosciences during the fourth quarter worth about $23,857,000. Braidwell LP acquired a new position in shares of Arcus Biosciences during the fourth quarter worth about $11,943,000. Millennium Management LLC increased its stake in shares of Arcus Biosciences by 277.1% during the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after acquiring an additional 679,267 shares during the period. Finally, Parkman Healthcare Partners LLC increased its stake 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 worth $15,684,000 after acquiring an additional 610,219 shares during the period. 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.