Arcus Biosciences (NYSE:RCUS) Hits New 52-Week Low on Analyst Downgrade

Arcus Biosciences, Inc. (NYSE:RCUS) reached a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $36.00 to $25.00. Morgan Stanley currently has an overweight rating on the stock. Arcus Biosciences traded as low as $10.65 and last traded at $11.00, with a volume of 4655000 shares trading hands. The stock had previously closed at $13.10.

RCUS has been the subject of several other research reports. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a research report on Thursday, November 7th. Barclays increased their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, HC Wainwright dropped their price target on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Arcus Biosciences has an average rating of “Buy” and an average target price of $31.29.

Insider Transactions at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Arcus Biosciences during the fourth quarter worth $26,000. Point72 Hong Kong Ltd bought a new position in shares of Arcus Biosciences during the third quarter worth $47,000. Lazard Asset Management LLC boosted its position in shares of Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after purchasing an additional 6,078 shares in the last quarter. US Bancorp DE boosted its position in shares of Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after purchasing an additional 9,408 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

Arcus Biosciences Trading Down 16.1 %

The business’s 50-day moving average price is $14.28 and its two-hundred day moving average price is $15.63. The company has a market capitalization of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84. 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 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.