Arcus Biosciences (NYSE:RCUS) Reaches New 12-Month Low – Here’s What Happened

Arcus Biosciences, Inc. (NYSE:RCUS) hit a new 52-week low on Monday . The company traded as low as $12.47 and last traded at $12.58, with a volume of 20999 shares. The stock had previously closed at $12.55.

Wall Street Analyst Weigh In

RCUS has been the subject of a number of research reports. HC Wainwright reiterated a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a report on Wednesday, November 6th. Barclays lifted their target price on 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 restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Arcus Biosciences has an average rating of “Buy” and a consensus target price of $32.67.

Arcus Biosciences Stock Performance

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 business has a 50-day moving average of $14.78 and a 200-day moving average of $15.75.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the business’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 directly owns 60,138 shares in the company, valued at $902,070. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 bought and sold shares of RCUS. R Squared Ltd bought a new stake in Arcus Biosciences in the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Arcus Biosciences during the 3rd quarter worth approximately $47,000. US Bancorp DE raised its stake in Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after acquiring an additional 6,615 shares during the period. Quest Partners LLC lifted its holdings in Arcus Biosciences by 40,904.3% during the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after purchasing an additional 9,408 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Arcus Biosciences during the fourth quarter worth $160,000. 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.