Arcus Biosciences (NYSE:RCUS) Raised to “Hold” at Wall Street Zen

Arcus Biosciences (NYSE:RCUS) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on RCUS. Wells Fargo & Company lifted their price objective on shares of Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Truist Financial reiterated a “buy” rating and set a $40.00 price target (up from $35.00) on shares of Arcus Biosciences in a report on Tuesday, September 8th. HC Wainwright upped their price target on Arcus Biosciences from $32.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Wedbush reissued an “outperform” rating and issued a $43.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, September 30th. Ten research 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.30.

Arcus Biosciences Trading Down 0.1%

Shares of RCUS opened at $24.43 on Friday. The business’s 50-day moving average price is $27.83 and its 200 day moving average price is $26.08. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.11 billion, a P/E ratio of -6.26 and a beta of 0.94. Arcus Biosciences has a 1-year low of $13.21 and a 1-year high of $31.74.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $21.98 million. The firm’s revenue was down 74.4% on a year-over-year basis. Analysts expect that Arcus Biosciences will post -3.53 earnings per share for the current year.

Insiders Place Their Bets

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $30.00, for a total value of $84,810.00. Following the transaction, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,187,430. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Juan C. Jaen sold 48,502 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.05, for a total value of $1,457,485.10. Following the sale, the president directly owned 842,307 shares of the company’s stock, valued at $25,311,325.35. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,396 shares of company stock worth $2,116,613 over the last ninety days. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in Arcus Biosciences during the second quarter valued at approximately $30,000. Hantz Financial Services Inc. grew its position in 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 in the last quarter. KBC Group NV bought a new stake in Arcus Biosciences in the first quarter worth approximately $50,000. Royal Bank of Canada increased its stake in shares of Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after purchasing an additional 607 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Arcus Biosciences by 10.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.

Arcus’ oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.