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

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low during trading on Tuesday . The stock traded as low as $12.53 and last traded at $13.20, with a volume of 872657 shares traded. The stock had previously closed at $12.90.

Analyst Ratings Changes

A number of brokerages recently issued reports on RCUS. Barclays boosted 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. HC Wainwright reissued a “neutral” rating and issued a $20.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, November 6th. Wells Fargo & Company started coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $32.67.

Arcus Biosciences Price Performance

The company’s 50 day simple moving average is $15.14 and its two-hundred day simple moving average is $15.83. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.06. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The company had revenue of $48.00 million for the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the previous year, the firm earned ($0.94) EPS. Arcus Biosciences’s revenue was up 50.0% compared to the same quarter last year. On average, equities analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB grew its position in shares of Arcus Biosciences by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 24,800 shares of the company’s stock valued at $369,000 after purchasing an additional 2,500 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Arcus Biosciences by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 263,517 shares of the company’s stock worth $3,924,000 after acquiring an additional 7,906 shares during the last quarter. R Squared Ltd purchased a new position in shares of Arcus Biosciences during the 4th quarter worth $26,000. Nordea Investment Management AB boosted its position in shares of Arcus Biosciences by 2.5% during the 4th quarter. Nordea Investment Management AB now owns 218,930 shares of the company’s stock valued at $3,245,000 after acquiring an additional 5,246 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after purchasing an additional 1,117 shares during the last quarter. 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.