Arcus Biosciences (NYSE:RCUS) Rating Lowered to “Sell” at Wall Street Zen

Arcus Biosciences (NYSE:RCUS) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts have also commented on RCUS. Citigroup upped their price objective on Arcus Biosciences from $54.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and set a $39.00 target price (up from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wedbush set a $35.00 target price on Arcus Biosciences and gave the stock an “outperform” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.44.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS opened at $19.70 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 4.50. The stock’s fifty day moving average price is $13.95 and its two-hundred day moving average price is $10.73. Arcus Biosciences has a one year low of $6.50 and a one year high of $22.11. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -5.73 and a beta of 0.77.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same period in the prior year, the firm posted ($1.00) EPS. The company’s revenue for the quarter was down 45.8% on a year-over-year basis. On average, equities analysts forecast that Arcus Biosciences will post -3.15 EPS for the current year.

Insider Activity

In related news, COO Jennifer Jarrett sold 37,792 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $15.05, for a total value of $568,769.60. Following the sale, the chief operating officer directly owned 214,232 shares of the company’s stock, valued at $3,224,191.60. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Juan C. Jaen sold 77,840 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $20.90, for a total value of $1,626,856.00. Following the completion of the sale, the president directly owned 1,091,374 shares in the company, valued at $22,809,716.60. This trade represents a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 156,561 shares of company stock worth $2,916,931. Insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in Arcus Biosciences by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company’s stock valued at $144,000 after buying an additional 6,453 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Arcus Biosciences by 106.2% in the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after buying an additional 470,755 shares in the last quarter. Rhumbline Advisers boosted its stake in Arcus Biosciences by 14.8% in the first quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock valued at $1,436,000 after buying an additional 23,645 shares in the last quarter. Woodline Partners LP boosted its stake in Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after buying an additional 1,603,367 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Arcus Biosciences by 17.1% in the second quarter. Nordea Investment Management AB now owns 319,899 shares of the company’s stock valued at $2,633,000 after buying an additional 46,776 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.