Arcus Biosciences (NYSE:RCUS) Stock Moved Up to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded Arcus Biosciences from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with a consensus price target of $38.30.
• RCUS opened at $24.43, with a $3.11 billion market capitalization and a 52-week range of $13.21 to $31.74. The company beat quarterly EPS estimates, reporting a loss of $0.72 per share versus the expected $0.89 loss, and revenue of $41 million.
• Insiders sold 71,396 shares worth approximately $2.12 million over the past 90 days, while institutional investors and hedge funds own 92.89% of the stock.

Arcus Biosciences (NYSE:RCUS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

RCUS has been the topic of a number of other reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcus Biosciences in a report on Friday, September 11th. Wedbush reaffirmed an "outperform" rating and set a $43.00 price target on shares of Arcus Biosciences in a research report on Wednesday. Truist Financial reiterated a "buy" rating and set a $40.00 price target (up from $35.00) on shares of Arcus Biosciences in a research note on Tuesday, September 8th. Wells Fargo & Company raised their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $42.00 target price on shares of Arcus Biosciences in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.30.

Arcus Biosciences Stock Down 3.2%

RCUS stock opened at $24.43 on Friday. The stock has a market capitalization of $3.11 billion, a PE ratio of -6.26 and a beta of 0.94. Arcus Biosciences has a 52 week low of $13.21 and a 52 week high of $31.74. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $27.83 and a 200 day moving average of $26.06.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.89) by $0.17. The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company's revenue was down 74.4% compared to the same quarter last year. Sell-side analysts forecast that Arcus Biosciences will post -3.53 earnings per share for the current year.

Insider Buying and Selling

In other news, President Juan C. Jaen sold 20,067 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president owned 822,240 shares in the company, valued at $23,532,508.80. This trade represents a 2.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer directly owned 39,581 shares in the company, valued at $1,187,430. This represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,396 shares of company stock valued at $2,116,613 over the last 90 days. Company insiders own 7.60% of the company's stock.

Hedge Funds Weigh In On Arcus Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Arcus Biosciences by 10.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $122,000 after buying an additional 359 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arcus Biosciences by 1.7% in the second quarter. Arizona State Retirement System now owns 24,211 shares of the company's stock valued at $746,000 after acquiring an additional 409 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Arcus Biosciences by 14.6% in the first quarter. Royal Bank of Canada now owns 4,758 shares of the company's stock valued at $102,000 after acquiring an additional 607 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of 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 acquiring an additional 881 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Arcus Biosciences in the second quarter worth approximately $30,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

About Arcus Biosciences

Arcus Biosciences, Inc is a biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses a proprietary research platform to develop small-molecule and antibody-based therapies designed to target biological mechanisms involved in tumor growth and immune-system regulation.

Arcus' oncology pipeline has included investigational therapies such as zimberelimab, an anti-PD-1 antibody; domvanalimab, an anti-TIGIT antibody; quemliclustat, a CD73 inhibitor; and etrumadenant, an adenosine receptor antagonist.

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