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

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

Several other research firms also recently issued reports on RCUS. The Goldman Sachs Group boosted their price objective on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. HC Wainwright upped their price objective on shares of Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial set a $30.00 price target on shares of Arcus Biosciences in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $28.89.

Arcus Biosciences Stock Performance

RCUS opened at $21.58 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -6.27 and a beta of 0.75. The business has a 50 day moving average price of $20.36 and a two-hundred day moving average price of $13.71. Arcus Biosciences has a 1-year low of $6.50 and a 1-year high of $26.40.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same period in the previous year, the company earned ($1.00) earnings per share. Arcus Biosciences’s revenue was down 45.8% compared to the same quarter last year. Research analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Jennifer Jarrett sold 37,792 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total value of $568,769.60. Following the sale, the chief operating officer directly owned 214,232 shares in the company, valued at $3,224,191.60. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Juan C. Jaen sold 82,997 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total transaction of $2,050,855.87. Following the transaction, the president directly owned 954,063 shares in the company, valued at $23,574,896.73. The trade was a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 294,193 shares of company stock worth $6,098,761 in the last ninety days. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. lifted its stake in Arcus Biosciences by 39.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,120,062 shares of the company’s stock valued at $15,233,000 after buying an additional 314,757 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Arcus Biosciences during the third quarter worth $3,400,000. Public Employees Retirement System of Ohio bought a new stake in Arcus Biosciences in the 3rd quarter valued at $299,000. Parkman Healthcare Partners LLC lifted its holdings in shares of Arcus Biosciences by 8.9% in the third quarter. Parkman Healthcare Partners LLC now owns 652,680 shares of the company’s stock valued at $8,876,000 after purchasing an additional 53,070 shares in the last quarter. Finally, Decheng Capital LLC lifted its holdings in shares of Arcus Biosciences by 242.3% in the third quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after purchasing an additional 387,609 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.