Arcus Biosciences (NYSE:RCUS) Reaches New 12-Month Low – Should You Sell?

Arcus Biosciences, Inc. (NYSE:RCUS) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.83 and last traded at $13.00, with a volume of 305748 shares trading hands. The stock had previously closed at $13.09.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RCUS shares. Barclays boosted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wedbush reissued an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and issued a $20.00 target price 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 issued an “overweight” rating and a $29.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Arcus Biosciences presently has a consensus rating of “Buy” and a consensus price target of $32.67.

Arcus Biosciences Trading Down 3.2 %

The firm has a market capitalization of $1.19 billion, a PE ratio of -4.11 and a beta of 0.87. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $15.20 and its 200 day simple moving average is $15.86.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $48.00 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same period in the prior year, the company earned ($0.94) earnings per share. The firm’s revenue was up 50.0% on a year-over-year basis. On average, sell-side analysts predict that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current year.

Insider Transactions at Arcus Biosciences

In other 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of RCUS. Squarepoint Ops LLC bought a new position in shares of Arcus Biosciences during the second quarter worth $254,000. AQR Capital Management LLC boosted its position in shares of Arcus Biosciences by 67.9% during the second quarter. AQR Capital Management LLC now owns 24,524 shares of the company’s stock worth $374,000 after acquiring an additional 9,916 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Arcus Biosciences by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company’s stock worth $455,000 after acquiring an additional 2,123 shares during the last quarter. Algert Global LLC raised its position in shares of Arcus Biosciences by 30.9% during the 2nd quarter. Algert Global LLC now owns 76,257 shares of the company’s stock valued at $1,161,000 after buying an additional 17,999 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Arcus Biosciences in the second quarter worth about $83,000. 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.