Arcus Biosciences (NYSE:RCUS) Downgraded by Wells Fargo & Company to “Hold”

Arcus Biosciences (NYSE:RCUS) was downgraded by Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research note on Thursday, January 8th. Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. HC Wainwright boosted their target price on shares of Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Bank of America upped their price target on shares of Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, November 28th. Finally, UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $19.88 on Thursday. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $26.40. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $22.47 and its two-hundred day moving average price is $17.67. The stock has a market cap of $2.15 billion, a PE ratio of -5.78 and a beta of 0.84.

Insider Buying and Selling at Arcus Biosciences

In related news, President Juan C. Jaen sold 82,997 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $24.71, for a total value of $2,050,855.87. Following the sale, the president owned 954,063 shares of the company’s stock, valued at $23,574,896.73. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Terry J. Rosen sold 28,947 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $633,360.36. Following the completion of the sale, the chief executive officer owned 2,220,553 shares of the company’s stock, valued at $48,585,699.64. The trade was a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 315,887 shares of company stock valued at $7,087,692. Insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 59.1% in 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. Hantz Financial Services Inc. lifted 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 period. SBI Securities Co. Ltd. boosted its holdings in Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after acquiring an additional 2,845 shares during the last quarter. CWM LLC boosted its holdings in Arcus Biosciences by 233.6% in the second quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after acquiring an additional 3,810 shares during the last quarter. Finally, 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. 92.89% of the stock is owned by institutional investors and hedge funds.

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.