Arcus Biosciences (NYSE:RCUS) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Arcus Biosciences received a "Sell (D-)" rating from Weiss Ratings, while Wells Fargo upgraded its target price for the stock from $25.00 to $29.00, giving it an "overweight" rating.
• The company's stock price rose 3.2%, reaching $17.32, with a significant trading volume of 539,345 shares compared to its average of 1,018,200.
• Arcus Biosciences reported a revenue increase of 310.3% for the quarter, achieving $160 million, surpassing the consensus estimate of $32.86 million.

Arcus Biosciences (NYSE:RCUS - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other research firms also recently commented on RCUS. Wells Fargo & Company boosted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen raised Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Truist Financial reiterated a "buy" rating and issued a $39.00 price objective (up from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Finally, Citigroup lifted their price objective on Arcus Biosciences from $47.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.22.

Arcus Biosciences Stock Up 3.2%

Arcus Biosciences stock traded up $0.54 during mid-day trading on Friday, hitting $17.32. The company had a trading volume of 539,345 shares, compared to its average volume of 1,018,200. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average price is $12.87 and its two-hundred day moving average price is $10.23. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a market capitalization of $1.84 billion, a PE ratio of -5.46 and a beta of 0.77.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.03. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.The business had revenue of $160.00 million for the quarter, compared to the consensus estimate of $32.86 million. During the same period in the previous year, the company posted ($1.02) earnings per share. The company's revenue for the quarter was up 310.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CAO Alexander Azoy sold 2,831 shares of the business's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $13.00, for a total transaction of $36,803.00. Following the completion of the sale, the chief accounting officer directly owned 27,363 shares in the company, valued at $355,719. The trade was a 9.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jennifer Jarrett sold 37,792 shares of the business's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $15.05, for a total value of $568,769.60. Following the sale, the chief operating officer owned 214,232 shares of the company's stock, valued at approximately $3,224,191.60. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,702 shares of company stock valued at $806,081. Corporate insiders own 9.60% of the company's stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently made changes to their positions in RCUS. Woodline Partners LP grew its stake in shares of Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock valued at $40,249,000 after purchasing an additional 1,603,367 shares during the period. Gilead Sciences Inc. grew its stake in shares of Arcus Biosciences by 4.5% during the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company's stock valued at $246,684,000 after purchasing an additional 1,363,636 shares during the period. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock valued at $52,499,000 after purchasing an additional 1,298,584 shares during the period. RA Capital Management L.P. bought a new position in shares of Arcus Biosciences during the 1st quarter valued at approximately $8,920,000. Finally, Wellington Management Group LLP bought a new position in shares of Arcus Biosciences during the 1st quarter valued at approximately $8,500,000. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.

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