Arcus Biosciences (NYSE:RCUS) Sets New 12-Month Low – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low on Tuesday . The stock traded as low as $8.75 and last traded at $8.81, with a volume of 50289 shares changing hands. The stock had previously closed at $9.12.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of analyst reports. HC Wainwright upgraded 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. Bank of America dropped their price target on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley decreased their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Trading Down 7.9 %

The stock has a market cap of $882.63 million, a P/E ratio of -2.67 and a beta of 1.36. The stock’s 50-day moving average is $11.57 and its two-hundred day moving average is $14.55. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.17) by $0.14. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business had revenue of $36.00 million during the quarter, compared to the consensus estimate of $29.38 million. Equities research analysts anticipate that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Buying and Selling at Arcus Biosciences

In related news, CEO Terry J. Rosen purchased 19,800 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the completion of the transaction, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. The trade was a 0.78 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yasunori Kaneko acquired 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the transaction, the director now owns 28,400 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of RCUS. Gilead Sciences Inc. bought a new stake in Arcus Biosciences in the fourth quarter worth $447,610,000. Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences in the 4th quarter worth about $23,857,000. Braidwell LP purchased a new position in shares of Arcus Biosciences during the 4th quarter worth about $11,943,000. Millennium Management LLC boosted its stake in shares of Arcus Biosciences by 277.1% during the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after purchasing an additional 679,267 shares during the period. Finally, Parkman Healthcare Partners LLC grew its holdings in Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares during the last quarter. Hedge funds and other institutional investors 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.