Arcus Biosciences (NYSE:RCUS) Reaches New 52-Week Low – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS)’s share price hit a new 52-week low during trading on Friday. The stock traded as low as $17.09 and last traded at $17.2580, with a volume of 38,880 shares. The stock had previously closed at $17.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RCUS shares. Truist Financial lowered their price target on Arcus Biosciences from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Morgan Stanley set a $23.00 price target on Arcus Biosciences in a report on Monday, August 10th. Citigroup boosted their price objective on Arcus Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Thursday, October 15th. Finally, HC Wainwright boosted their price target on shares of Arcus Biosciences from $32.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Twelve analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.36.

Arcus Biosciences Trading Down 1.8%

The company has a market cap of $2.51 billion, a P/E ratio of -4.81 and a beta of 1.04. The firm’s 50-day moving average price is $22.61 and its 200-day moving average price is $24.43. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.28.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.11). Arcus Biosciences had a negative net margin of 453.00% and a negative return on equity of 91.65%. The company had revenue of $9.00 million during the quarter, compared to analysts’ expectations of $7.58 million. During the same quarter last year, the firm posted ($1.27) earnings per share. Arcus Biosciences’s revenue for the quarter was down 65.4% compared to the same quarter last year. As a group, equities research analysts expect that Arcus Biosciences, Inc. will post -3.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the sale, the chief accounting officer owned 39,581 shares of the company’s stock, valued at approximately $1,187,430. This represents a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in Arcus Biosciences in the 2nd quarter worth approximately $16,741,000. Legal & General Group Plc purchased a new position in shares of Arcus Biosciences in the second quarter valued at about $5,906,000. BlackRock Inc. bought a new position in Arcus Biosciences during the 2nd quarter valued at approximately $506,113,000. Corient Private Wealth LP bought a new stake in shares of Arcus Biosciences in the 2nd quarter worth approximately $1,823,000. Finally, Handelsbanken Fonder AB purchased a new position in shares of Arcus Biosciences during the second quarter valued at approximately $1,202,000. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. Founded in 2015 and headquartered in Hayward, California, the company researches therapies that target immune pathways and other processes involved in tumor growth. Its pipeline consists of investigational medicines, including antibody and small-molecule candidates designed to be used alone or in combination. Arcus’s research has focused on areas such as checkpoint inhibition and the adenosine pathway; its candidates are under clinical development and are not established treatments.