Arcus Biosciences (NYSE:RCUS) Upgraded to “Hold” at Wall Street Zen

Arcus Biosciences (NYSE:RCUS) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research firms also recently weighed in on RCUS. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Citigroup boosted their price objective on Arcus Biosciences from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Truist Financial reaffirmed a “buy” rating and set a $39.00 target price (up previously from $32.00) on shares of Arcus Biosciences in a research note on Tuesday, October 7th. The Goldman Sachs Group lifted their target price on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, HC Wainwright upped their price target on shares of Arcus Biosciences from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $28.44.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $22.05 on Friday. The firm has a market capitalization of $2.38 billion, a PE ratio of -6.41 and a beta of 0.90. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $16.65 and a 200 day moving average price of $11.97. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $22.49.

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

Insider Buying and Selling

In related news, COO Jennifer Jarrett sold 37,792 shares of Arcus Biosciences 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 transaction, the chief operating officer owned 214,232 shares of the company’s stock, valued at approximately $3,224,191.60. This trade represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alexander Azoy sold 2,831 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $13.00, for a total transaction of $36,803.00. Following the sale, the chief accounting officer directly owned 27,363 shares of the company’s stock, valued at $355,719. This represents a 9.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 210,875 shares of company stock valued at $4,017,263 over the last ninety days. 9.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Arcus Biosciences by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 401,570 shares of the company’s stock valued at $3,152,000 after acquiring an additional 19,955 shares in the last quarter. Victory Capital Management Inc. raised its stake in Arcus Biosciences by 36.4% during the 1st quarter. Victory Capital Management Inc. now owns 62,340 shares of the company’s stock valued at $489,000 after purchasing an additional 16,622 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Arcus Biosciences in the first quarter valued at $247,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Arcus Biosciences in the first quarter valued at $138,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arcus Biosciences by 7.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,748 shares of the company’s stock worth $281,000 after buying an additional 2,524 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.