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

Wall Street Zen cut shares of Arcus Biosciences (NYSE:RCUS) from a hold rating to a sell rating in a report published on Saturday morning.

Other equities research analysts have also recently issued reports about the company. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price (down from $23.00) on shares of Arcus Biosciences in a report on Thursday, January 8th. The Goldman Sachs Group upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.00 to $28.00 in a report on Monday, January 12th. UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Monday, December 15th. Finally, Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a research report on Friday, December 12th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $21.13 on Friday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -6.14 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 quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $22.75 and its 200 day moving average is $17.55.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, General Counsel Carolyn C. Tang sold 7,658 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $167,557.04. Following the completion of the transaction, the general counsel owned 131,544 shares of the company’s stock, valued at approximately $2,878,182.72. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Terry J. Rosen sold 28,947 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $633,360.36. Following the sale, the chief executive officer directly owned 2,220,553 shares in the company, valued at $48,585,699.64. This trade represents a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 315,887 shares of company stock valued at $7,087,692. Company insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Arcus Biosciences by 19.3% during the 4th quarter. Geode Capital Management LLC now owns 1,907,345 shares of the company’s stock valued at $45,459,000 after purchasing an additional 308,936 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Arcus Biosciences by 167.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,949,788 shares of the company’s stock worth $46,463,000 after purchasing an additional 1,220,635 shares during the period. Legal & General Group Plc boosted its position in Arcus Biosciences by 15.0% in the fourth quarter. Legal & General Group Plc now owns 205,203 shares of the company’s stock valued at $4,890,000 after buying an additional 26,806 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares during the period. Finally, Legato Capital Management LLC acquired a new position in Arcus Biosciences in the 4th quarter worth approximately $621,000. Hedge funds and other 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.