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

Arcus Biosciences (NYSE:RCUS) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a research report on Friday, December 12th. Wedbush set a $35.00 target price on Arcus Biosciences and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Wells Fargo & Company upped their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, UBS Group reissued a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $21.05 on Friday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -6.12 and a beta of 0.84. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The stock’s 50 day moving average price is $22.85 and its two-hundred day moving average price is $17.48.

Insider Activity

In related news, CAO Alexander Azoy sold 4,343 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $22.25, for a total transaction of $96,631.75. Following the completion of the sale, the chief accounting officer owned 18,531 shares in the company, valued at approximately $412,314.75. This represents a 18.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert C. Goeltz II sold 6,552 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total value of $153,185.76. Following the completion of the sale, the chief financial officer directly owned 67,924 shares of the company’s stock, valued at $1,588,063.12. The trade was a 8.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 315,887 shares of company stock worth $7,087,692. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several institutional investors have recently made changes to their positions in RCUS. AQR Capital Management LLC raised its holdings in shares of Arcus Biosciences by 253.9% in the first quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock valued at $714,000 after purchasing an additional 65,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Arcus Biosciences by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after purchasing an additional 3,565 shares in the last quarter. Millennium Management LLC increased its stake in Arcus Biosciences by 29.2% in the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock valued at $9,378,000 after buying an additional 270,253 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Arcus Biosciences by 106.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after buying an additional 470,755 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Arcus Biosciences during the 1st quarter worth approximately $67,000. Institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

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.