Weiss Ratings Reaffirms "Sell (D-)" Rating for Arcus Biosciences (NYSE:RCUS)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Arcus Biosciences (NYSE:RCUS) amid mixed analyst opinions.
• Despite a previous "strong sell" to "hold" upgrade from Wall Street Zen, the consensus rating remains "Moderate Buy" with a target price of $23.38.
• In its latest earnings report, Arcus Biosciences posted a revenue increase of 310.3% year-over-year, outperforming estimates with $160 million in revenue, but recorded ($1.11) EPS, still reflecting significant losses.

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

Several other research analysts have also commented on RCUS. Wall Street Zen raised shares of Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial reissued a "buy" rating and issued a $39.00 price objective (up previously from $32.00) on shares of Arcus Biosciences in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.38.

Arcus Biosciences Stock Performance

NYSE RCUS traded up $0.91 during mid-day trading on Wednesday, reaching $14.94. 373,134 shares of the stock were exchanged, compared to its average volume of 998,625. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.50 and a current ratio of 4.50. The company has a market capitalization of $1.59 billion, a P/E ratio of -4.73 and a beta of 0.77. Arcus Biosciences has a 1 year low of $6.50 and a 1 year high of $18.98. The business's 50 day moving average is $11.21 and its 200-day moving average is $9.54.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.03. The business had revenue of $160.00 million for the quarter, compared to the consensus estimate of $32.86 million. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The company's revenue was up 310.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.02) earnings per share. On average, equities research analysts forecast that Arcus Biosciences will post -3.15 EPS 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 on Monday, September 29th. The shares were sold at an average price of $13.00, for a total value of $36,803.00. Following the transaction, the chief accounting officer directly owned 27,363 shares of the company's stock, valued at approximately $355,719. The trade was a 9.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company's stock.

Hedge Funds Weigh In On Arcus Biosciences

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in 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 buying an additional 1,021 shares during the period. CWM LLC boosted its position in shares of Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company's stock worth $44,000 after purchasing an additional 3,810 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Arcus Biosciences by 34.3% during the 2nd 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. PNC Financial Services Group Inc. boosted its position in shares of Arcus Biosciences by 440.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock worth $62,000 after purchasing an additional 6,191 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Arcus Biosciences by 184.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company's stock worth $69,000 after purchasing an additional 5,476 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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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