Arcus Biosciences (NYSE:RCUS) Upgraded by Wall Street Zen to Hold Rating

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

A number of other analysts also recently weighed in on RCUS. HC Wainwright lifted their price target on Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a research report on Friday. Citigroup reaffirmed a “buy” rating on shares of Arcus Biosciences in a research note on Friday. Bank of America raised their price objective on shares of Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.89.

Arcus Biosciences Trading Down 14.2%

Shares of Arcus Biosciences stock opened at $21.58 on Friday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -6.27 and a beta of 0.75. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40. The company’s 50-day simple moving average is $20.36 and its 200-day simple moving average is $13.71. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) earnings per share 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 company had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same quarter in the previous year, the company earned ($1.00) EPS. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Activity

In related news, COO Jennifer Jarrett sold 37,792 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total transaction of $568,769.60. Following the sale, the chief operating officer owned 214,232 shares in the company, valued at approximately $3,224,191.60. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alexander Azoy sold 2,831 shares of Arcus Biosciences stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $13.00, for a total transaction of $36,803.00. Following the completion of the sale, the chief accounting officer directly owned 27,363 shares of the company’s stock, valued at $355,719. The trade was a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 294,193 shares of company stock worth $6,098,761. 9.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently bought and sold shares of RCUS. US Bancorp DE increased its stake in Arcus Biosciences by 186.9% during the first quarter. US Bancorp DE now owns 19,756 shares of the company’s stock worth $155,000 after acquiring an additional 12,869 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Arcus Biosciences by 24.1% during the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after purchasing an additional 1,298,584 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Arcus Biosciences by 23.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 714,002 shares of the company’s stock worth $5,605,000 after acquiring an additional 134,379 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Arcus Biosciences by 10.9% during the first quarter. Maryland State Retirement & Pension System now owns 20,202 shares of the company’s stock valued at $159,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Swiss National Bank raised its stake in Arcus Biosciences by 35.9% during the first quarter. Swiss National Bank now owns 133,596 shares of the company’s stock worth $1,049,000 after acquiring an additional 35,300 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.