Arcus Biosciences (NYSE:RCUS) Cut to Sell at Wall Street Zen

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

Several other research analysts have also weighed in on the company. Morgan Stanley set a $23.00 price target on Arcus Biosciences in a research report on Monday, August 10th. Wedbush upped their price objective on Arcus Biosciences from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Citigroup increased their price objective on Arcus Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. William Blair started coverage on Arcus Biosciences in a report on Friday, October 16th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Arcus Biosciences in a research note on Wednesday, October 14th. They issued an “overweight” rating and a $41.00 target price for the company. Twelve equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.64.

Arcus Biosciences Trading Down 4.7%

Shares of NYSE:RCUS opened at $17.67 on Friday. The company’s 50-day moving average price is $25.88 and its two-hundred day moving average price is $24.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. Arcus Biosciences has a one year low of $17.43 and a one year high of $31.74. The stock has a market capitalization of $2.25 billion, a PE ratio of -4.53 and a beta of 0.94.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. The company had revenue of $41.00 million during the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. Arcus Biosciences’s quarterly revenue was down 74.4% on a year-over-year basis. On average, equities analysts forecast that Arcus Biosciences will post -3.55 EPS for the current fiscal year.

Insider Activity

In related news, CAO Alexander Azoy sold 2,827 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. This trade represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Arcus Biosciences in the second quarter valued at approximately $506,113,000. Parkman Healthcare Partners LLC bought a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $28,341,000. Bank of America Corp DE bought a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $25,759,000. Bank of New York Mellon Corp bought a new position in shares of Arcus Biosciences during the 2nd quarter worth approximately $16,741,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Arcus Biosciences by 1,198.8% during the 1st quarter. Renaissance Technologies LLC now owns 424,700 shares of the company’s stock worth $9,174,000 after acquiring an additional 392,000 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.