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 research note issued on Sunday.

A number of other research analysts also recently weighed in on the company. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price (down previously from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. The Goldman Sachs Group upgraded Arcus Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.00 to $28.00 in a research note on Monday, January 12th. Wells Fargo & Company lifted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Truist Financial set a $30.00 price target on Arcus Biosciences in a report on Friday, December 12th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Arcus Biosciences Price Performance

RCUS stock opened at $21.83 on Friday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -6.35 and a beta of 0.77. The firm’s 50-day moving average price is $22.92 and its two-hundred day moving average price is $16.23. 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 has a 12-month low of $6.50 and a 12-month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $19.89 million. During the same period last year, the firm earned ($1.00) earnings per share. Arcus Biosciences’s quarterly revenue was down 45.8% on a year-over-year basis. As a group, equities analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insiders Place Their Bets

In other Arcus Biosciences news, COO Jennifer Jarrett sold 11,225 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 value of $245,603.00. Following the completion of the sale, the chief operating officer directly owned 203,007 shares in the company, valued at $4,441,793.16. This represents a 5.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Terry J. Rosen sold 28,947 shares of Arcus Biosciences stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $633,360.36. Following the transaction, the chief executive officer owned 2,220,553 shares in the company, valued at approximately $48,585,699.64. This represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 422,060 shares of company stock valued at $9,286,202. Insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Arcus Biosciences by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock worth $90,161,000 after acquiring an additional 73,210 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Arcus Biosciences by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock worth $12,995,000 after purchasing an additional 207,097 shares during the period. Bank of America Corp DE increased its position in shares of 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 worth $18,507,000 after purchasing an additional 863,162 shares during the last quarter. Wellington Management Group LLP raised its holdings in Arcus Biosciences by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock valued at $17,222,000 after buying an additional 330,268 shares during the period. Finally, Sofinnova Investments Inc. lifted its position in Arcus Biosciences by 17.2% in the second quarter. Sofinnova Investments Inc. now owns 1,216,016 shares of the company’s stock valued at $9,898,000 after buying an additional 178,240 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.