Arcus Biosciences (NYSE:RCUS) Downgraded by Wells Fargo & Company to Equal Weight

Wells Fargo & Company lowered shares of Arcus Biosciences (NYSE:RCUS) from an overweight rating to an equal weight rating in a research report report published on Thursday, Marketbeat reports. Wells Fargo & Company currently has $23.00 target price on the stock.

RCUS has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. Bank of America raised their price objective on shares of Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. HC Wainwright upped their target price on shares of Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a report on Friday, December 12th. Finally, Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a research report on Friday, December 12th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.33.

Arcus Biosciences Stock Down 6.9%

Shares of NYSE RCUS opened at $19.88 on Thursday. 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 business’s 50 day moving average is $22.47 and its two-hundred day moving average is $17.67. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -5.78 and a beta of 0.84.

Insider Activity

In related news, COO Jennifer Jarrett sold 11,225 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 $245,603.00. Following the completion of the transaction, the chief operating officer owned 203,007 shares in the company, valued at approximately $4,441,793.16. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Juan C. Jaen sold 82,997 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $24.71, for a total value of $2,050,855.87. Following the completion of the transaction, the president directly owned 954,063 shares in the company, valued at $23,574,896.73. This trade represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 315,887 shares of company stock worth $7,087,692 over the last three months. Insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Arcus Biosciences by 59.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after acquiring an additional 1,021 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after purchasing an additional 881 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after purchasing an additional 2,845 shares in the last quarter. CWM LLC increased its stake in Arcus Biosciences by 233.6% in the second quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after purchasing an additional 3,810 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Arcus Biosciences by 34.3% during the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock worth $57,000 after purchasing an additional 1,796 shares in the last quarter. 92.89% of the stock is 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.