Arcus Biosciences (NYSE:RCUS) Stock Moved Up to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Arcus Biosciences (NYSE:RCUS) from a sell rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other analysts have also commented on the stock. TD Cowen initiated coverage on shares of Arcus Biosciences in a research report on Wednesday, September 16th. They set a “buy” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Arcus Biosciences in a research report on Wednesday. Wells Fargo & Company boosted 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 note on Thursday, August 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Friday, September 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.30.

Arcus Biosciences Trading Down 3.2%

Shares of NYSE:RCUS opened at $24.43 on Friday. Arcus Biosciences has a 12-month low of $13.21 and a 12-month high of $31.74. The business’s fifty day simple moving average is $27.83 and its 200-day simple moving average is $26.06. The company has a market capitalization of $3.11 billion, a PE ratio of -6.26 and a beta of 0.94. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last released its quarterly 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 return on equity of 89.54% and a negative net margin of 393.16%.The firm had revenue of $41.00 million during the quarter, compared to analyst estimates of $21.98 million. Arcus Biosciences’s revenue was down 74.4% on a year-over-year basis. As a group, equities research analysts predict that Arcus Biosciences will post -3.53 earnings per share for the current fiscal year.

Insider Activity

In other Arcus Biosciences news, President Juan Jaen sold 20,067 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the sale, the president owned 822,240 shares of the company’s stock, valued at approximately $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of the business’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 sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 71,396 shares of company stock valued at $2,116,613. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd increased its stake in Arcus Biosciences by 59.7% during the 2nd quarter. WINTON GROUP Ltd now owns 52,398 shares of the company’s stock valued at $1,615,000 after purchasing an additional 19,578 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Arcus Biosciences during the second quarter worth $30,000. Arizona State Retirement System lifted its stake in shares of Arcus Biosciences by 1.7% during the second quarter. Arizona State Retirement System now owns 24,211 shares of the company’s stock worth $746,000 after buying an additional 409 shares during the period. Nykredit A S acquired a new stake in shares of Arcus Biosciences during the second quarter worth $134,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Arcus Biosciences during the second quarter valued at $2,542,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

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.