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

Wall Street Zen downgraded shares of Arcus Biosciences (NYSE:RCUS) from a hold rating to a sell rating in a research report released on Saturday.

Several other research firms have also recently issued reports on RCUS. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a research report on Friday, December 12th. UBS Group reaffirmed a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Bank of America boosted their price target on shares of Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Wells Fargo & Company raised their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a report on Thursday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $21.25 on Friday. The firm’s 50 day simple moving average is $22.62 and its two-hundred day simple moving average is $15.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The company has a market capitalization of $2.29 billion, a P/E ratio of -6.18 and a beta of 0.77. Arcus Biosciences has a 1-year low of $6.50 and a 1-year high of $26.40.

Arcus Biosciences (NYSE:RCUS) last released its earnings results 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 net margin of 136.40% and a negative return on equity of 68.17%. The company had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $19.89 million. During the same quarter in the previous year, the company earned ($1.00) EPS. Arcus Biosciences’s revenue for the quarter was down 45.8% on a year-over-year basis. Research analysts expect that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other news, CAO Alexander Azoy sold 4,343 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $22.25, for a total value of $96,631.75. Following the completion of the sale, the chief accounting officer owned 18,531 shares in the company, valued at approximately $412,314.75. This trade represents a 18.99% 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, CFO Robert C. Goeltz II sold 6,552 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total transaction of $153,185.76. Following the transaction, the chief financial officer owned 67,924 shares in the company, valued at $1,588,063.12. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 422,060 shares of company stock worth $9,286,202. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in Arcus Biosciences by 173.5% during the 3rd quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after acquiring an additional 863,162 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Arcus Biosciences by 727.1% during the third quarter. Fisher Asset Management LLC now owns 729,153 shares of the company’s stock valued at $9,916,000 after purchasing an additional 640,990 shares during the period. Goldman Sachs Group Inc. increased its stake in Arcus Biosciences by 106.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares during the period. Decheng Capital LLC lifted its holdings in Arcus Biosciences by 242.3% during the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after buying an additional 387,609 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in Arcus Biosciences during the 3rd quarter valued at about $5,147,000. 92.89% of the stock is currently 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.