Arcus Biosciences (NYSE:RCUS) Hits New 52-Week Low – Should You Sell?

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RCUS. HC Wainwright raised Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Bank of America lowered their price objective on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley reduced their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One investment 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. According to data from MarketBeat, Arcus Biosciences presently has an average rating of “Buy” and an average target price of $30.25.

Arcus Biosciences Stock Down 2.0 %

The firm has a market cap of $962.43 million, a PE ratio of -2.91 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The company’s 50-day simple moving average is $12.13 and its two-hundred day simple moving average is $14.82.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, February 25th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $36.00 million during the quarter, compared to analyst estimates of $29.38 million. On average, analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Insider Activity

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s 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 approximately $902,070. The trade was a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terry J. Rosen bought 19,800 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.18 per share, with a total value 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. This trade represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RCUS. Gilead Sciences Inc. bought a new stake in shares of Arcus Biosciences during the fourth quarter valued at approximately $447,610,000. Boxer Capital Management LLC bought a new stake in shares of Arcus Biosciences during the 4th quarter valued at $23,857,000. Braidwell LP bought a new stake in shares of Arcus Biosciences during the 4th quarter valued at $11,943,000. Millennium Management LLC grew its position in shares of Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after buying an additional 679,267 shares during the period. Finally, Parkman Healthcare Partners LLC increased its stake in shares of Arcus Biosciences by 146.9% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after acquiring an additional 610,219 shares in the last quarter. 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.