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

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price hit a new 52-week low during trading on Wednesday . The company 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

A number of research firms have issued reports on RCUS. HC Wainwright reaffirmed 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 began coverage on shares of Arcus Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $29.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Barclays upped their target price 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. Finally, Wedbush reiterated an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $34.00.

Arcus Biosciences Stock Down 0.2 %

The firm has a market cap of $1.20 billion, a PE ratio of -4.15 and a beta of 0.87. The company has a 50-day simple moving average of $15.25 and a 200-day simple moving average of $15.89. 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 issued its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.06. The firm had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business’s revenue was up 50.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.94) earnings per share. Analysts expect that Arcus Biosciences, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction dated 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 owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Arcus Biosciences by 6.9% during the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after acquiring an additional 286,766 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after purchasing an additional 603,222 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in shares of 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Arcus Biosciences by 25.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 931,048 shares of the company’s stock worth $14,236,000 after purchasing an additional 186,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Arcus Biosciences by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock worth $8,669,000 after buying an additional 59,536 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.