Arcus Biosciences (NYSE:RCUS) Sets New 12-Month Low – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $13.40 and last traded at $13.41, with a volume of 991419 shares traded. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RCUS shares. Barclays raised their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target for the company. HC Wainwright reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. Finally, Wedbush restated an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $34.00.

Arcus Biosciences Stock Down 5.2 %

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 firm has a market capitalization of $1.23 billion, a P/E ratio of -4.26 and a beta of 0.87. The firm’s fifty day moving average price is $15.40 and its 200-day moving average price is $15.92.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The company had revenue of $48.00 million during the quarter, compared to the consensus estimate of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.94) EPS. As a group, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction that occurred 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. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RCUS. Point72 Hong Kong Ltd purchased a new position in shares of Arcus Biosciences during the 3rd quarter valued at $47,000. Point72 DIFC Ltd acquired a new stake in Arcus Biosciences during the second quarter valued at $83,000. Quest Partners LLC increased its position in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Arcus Biosciences during the 3rd quarter worth about $244,000. Finally, Martingale Asset Management L P acquired a new stake in shares of Arcus Biosciences during the 3rd quarter valued at about $251,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.