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

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Bank of America reduced their price objective on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arcus Biosciences presently has an average rating of “Buy” and an average price target of $30.25.

Arcus Biosciences Stock Performance

The stock has a market cap of $952.87 million, a P/E ratio of -2.88 and a beta of 1.36. The business has a 50 day moving average price of $11.89 and a 200 day moving average price of $14.72. 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 Tuesday, February 25th. The company reported ($1.03) EPS for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.14. The firm had revenue of $36.00 million for the quarter, compared to analysts’ expectations 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 expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Insider Activity at Arcus Biosciences

In related news, Director Yasunori Kaneko bought 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.06 per share, for a total transaction of $201,200.00. Following the completion of the acquisition, the director now directly owns 28,400 shares in the company, valued at approximately $285,704. This represents a 238.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the sale, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. 12.30% of the stock is owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of hedge funds have recently bought and sold shares of RCUS. R Squared Ltd purchased a new stake in Arcus Biosciences during the fourth quarter worth $26,000. Point72 Hong Kong Ltd purchased a new stake in Arcus Biosciences during the third quarter worth $47,000. Lazard Asset Management LLC lifted its holdings in Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after buying an additional 6,078 shares during the period. US Bancorp DE increased its position in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.