Arcus Biosciences (NYSE:RCUS) Hits New 1-Year Low – Here’s Why

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low during trading on Monday . The company traded as low as $6.50 and last traded at $6.61, with a volume of 96076 shares. The stock had previously closed at $6.87.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RCUS shares. HC Wainwright upgraded shares of 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 report on Wednesday, February 26th. Morgan Stanley reduced their price objective on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Bank of America lowered their target price on Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $30.25.

Arcus Biosciences Stock Performance

The stock has a 50-day moving average price of $10.50 and a 200-day moving average price of $13.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market capitalization of $763.72 million, a PE ratio of -2.31 and a beta of 1.54.

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

Insider Activity

In other news, CEO Terry J. Rosen bought 19,800 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.18 per share, with a total value of $201,564.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. This trade represents a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yasunori Kaneko bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, with a total value of $201,200.00. Following the purchase, the director now directly owns 28,400 shares of the company’s stock, valued at approximately $285,704. This represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arcus Biosciences by 2.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock worth $506,000 after purchasing an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock valued at $471,000 after buying an additional 843 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Arcus Biosciences by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock worth $668,000 after buying an additional 1,117 shares during the last quarter. R Squared Ltd acquired a new position in shares of Arcus Biosciences during the 4th quarter valued at about $26,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Arcus Biosciences by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock valued at $223,000 after acquiring an additional 2,410 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.