Arcus Biosciences (NYSE:RCUS) Lowered to “Sell” Rating by Wall Street Zen

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

Other research analysts also recently issued reports about the stock. Morgan Stanley reissued an “equal weight” rating and set a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Wedbush set a $35.00 target price on Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Truist Financial set a $30.00 price target on Arcus Biosciences in a research report on Friday, December 12th. Finally, Bank of America increased their price target on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $21.05 on Friday. The stock has a 50 day moving average of $22.85 and a 200 day moving average of $17.42. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -6.12 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 posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.27) earnings per share for the quarter, topping the consensus estimate of ($1.28) by $0.01. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.During the same period in the previous year, the company earned ($1.00) EPS. The business’s revenue was down 45.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Arcus Biosciences will post -3.15 earnings per share for the current year.

Insider Activity

In other news, insider Richard Markus sold 4,494 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total value of $99,587.04. Following the sale, the insider directly owned 65,647 shares of the company’s stock, valued at approximately $1,454,737.52. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Carolyn C. Tang sold 6,810 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total transaction of $150,909.60. Following the sale, the general counsel directly owned 124,734 shares in the company, valued at $2,764,105.44. This trade represents a 5.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 315,887 shares of company stock valued at $7,087,692. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Arcus Biosciences by 253.9% in the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after acquiring an additional 65,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arcus Biosciences by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after purchasing an additional 3,565 shares in the last quarter. Millennium Management LLC increased its position in shares of Arcus Biosciences by 29.2% in the first quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after purchasing an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Arcus Biosciences by 106.2% in the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after purchasing an additional 470,755 shares in the last quarter. Finally, Strs Ohio bought a new stake in Arcus Biosciences during the first quarter valued at approximately $67,000. 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.