Arcus Biosciences (NYSE:RCUS) Hits New 1-Year Low – Should You Sell?

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.95 and last traded at $9.15, with a volume of 1016238 shares. The stock had previously closed at $9.34.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Bank of America cut their target price on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Arcus Biosciences Stock Performance

The firm has a 50-day moving average of $11.89 and a 200-day moving average of $14.72. The stock has a market capitalization of $952.87 million, a price-to-earnings ratio of -2.88 and a beta of 1.36. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08.

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

Insiders Place Their Bets

In other news, CEO Terry J. Rosen bought 19,800 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.18 per share, with a total value of $201,564.00. Following the purchase, the chief executive officer now directly owns 2,554,160 shares in the company, valued at $26,001,348.80. The trade was a 0.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Arcus Biosciences by 2.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock worth $506,000 after acquiring an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Arcus Biosciences by 2.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock worth $471,000 after acquiring an additional 843 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Arcus Biosciences by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after acquiring an additional 1,117 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth about $26,000. Finally, Teacher Retirement System of Texas lifted its stake in Arcus Biosciences by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after buying an additional 2,410 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.