Arcus Biosciences (NYSE:RCUS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arcus Biosciences (NYSE:RCUS) from a sell rating to a hold rating in a research note published on Sunday.

RCUS has been the subject of several other research reports. Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a research report on Friday, December 12th. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. UBS Group restated a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. The Goldman Sachs Group raised shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.00 to $28.00 in a research note on Monday, January 12th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective (down previously from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.00.

Arcus Biosciences Stock Performance

Shares of RCUS opened at $21.97 on Friday. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $26.40. The stock has a market cap of $2.37 billion, a P/E ratio of -6.39 and a beta of 0.77. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $22.95 and a two-hundred day moving average of $16.32.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same period in the prior year, the business earned ($1.00) earnings per share. The company’s quarterly revenue was down 45.8% on a year-over-year basis. As a group, research analysts predict that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Transactions at Arcus Biosciences

In related news, President Juan C. Jaen sold 31,823 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $21.41, for a total value of $681,330.43. Following the transaction, the president directly owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. This trade represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Markus sold 4,494 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total value of $99,587.04. Following the sale, the insider directly owned 65,647 shares of the company’s stock, valued at $1,454,737.52. The trade was a 6.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 422,060 shares of company stock valued at $9,286,202 in the last three months. 9.60% of the stock is currently owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Arcus Biosciences by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock valued at $12,995,000 after purchasing an additional 207,097 shares during the period. Tema Etfs LLC increased its holdings in shares of Arcus Biosciences by 291.2% during the 2nd quarter. Tema Etfs LLC now owns 59,662 shares of the company’s stock worth $486,000 after purchasing an additional 44,411 shares during the period. Squarepoint Ops LLC raised its position in shares of Arcus Biosciences by 163.7% during the second quarter. Squarepoint Ops LLC now owns 199,649 shares of the company’s stock valued at $1,625,000 after buying an additional 123,938 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Arcus Biosciences by 17.1% during the second quarter. Nordea Investment Management AB now owns 319,899 shares of the company’s stock valued at $2,633,000 after buying an additional 46,776 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Arcus Biosciences in the second quarter valued at about $295,000. 92.89% of the stock is currently 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.