Arcus Biosciences (NYSE:RCUS) Stock Rating Lowered by Wall Street Zen

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

A number of other analysts also recently issued reports on RCUS. The Goldman Sachs Group raised their price target on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Wells Fargo & Company raised their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Truist Financial reaffirmed a “buy” rating and set a $39.00 price target (up from $32.00) on shares of Arcus Biosciences in a research note on Tuesday, October 7th. Bank of America increased their price objective on shares of Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Seven 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 has an average rating of “Moderate Buy” and an average target price of $29.44.

Arcus Biosciences Stock Up 1.0%

Shares of NYSE:RCUS opened at $25.50 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -7.41 and a beta of 0.74. 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. The company has a 50-day moving average price of $19.25 and a 200 day moving average price of $13.20.

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

Insider Activity at Arcus Biosciences

In related news, CAO Alexander Azoy sold 2,831 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $13.00, for a total value of $36,803.00. Following the transaction, the chief accounting officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Jarrett sold 37,792 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,224,191.60. The trade was a 15.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 294,193 shares of company stock valued at $6,098,761 over the last 90 days. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 59.1% during the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after buying an additional 1,021 shares during the period. SBI Securities Co. Ltd. grew its holdings in Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after acquiring an additional 2,845 shares in the last quarter. CWM LLC grew its holdings in Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock worth $44,000 after acquiring an additional 3,810 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Arcus Biosciences by 34.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after purchasing an additional 1,796 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Arcus Biosciences by 440.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company’s stock valued at $62,000 after purchasing an additional 6,191 shares in the last quarter. 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.