Wall Street Zen Upgrades Arcus Biosciences (NYSE:RCUS) to Hold

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

Several other brokerages have also recently issued reports on RCUS. HC Wainwright raised their price objective on Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wells Fargo & Company set a $23.00 price target on shares of Arcus Biosciences and gave the stock an “equal weight” rating in a report on Thursday, February 12th. The Goldman Sachs Group raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.00 to $28.00 in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Finally, UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.33.

Arcus Biosciences Trading Up 4.2%

NYSE RCUS opened at $20.36 on Friday. The company has a fifty day simple moving average of $21.57 and a two-hundred day simple moving average of $18.44. The stock has a market cap of $2.55 billion, a P/E ratio of -6.17 and a beta of 0.84. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $26.40. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, February 25th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.22. The firm had revenue of $33.00 million for the quarter, compared to the consensus estimate of $24.94 million. Arcus Biosciences had a negative return on equity of 69.86% and a negative net margin of 142.91%.The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.03) EPS. On average, analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jennifer Jarrett sold 11,225 shares of Arcus Biosciences stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $245,603.00. Following the sale, the chief operating officer owned 203,007 shares of the company’s stock, valued at approximately $4,441,793.16. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Carolyn C. Tang sold 7,658 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total transaction of $167,557.04. Following the transaction, the general counsel owned 131,544 shares of the company’s stock, valued at $2,878,182.72. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 263,987 shares of company stock worth $6,025,620. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Arcus Biosciences by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after buying an additional 482 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Arcus Biosciences by 3.9% during the third quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock valued at $266,000 after acquiring an additional 736 shares during the last quarter. Creative Planning lifted its position in shares of Arcus Biosciences by 2.7% in the third quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after acquiring an additional 771 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after acquiring an additional 881 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Arcus Biosciences by 1.1% during the fourth quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock worth $2,203,000 after purchasing an additional 1,000 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.