Wells Fargo & Company Issues Pessimistic Forecast for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS - Free Report) had its price objective lowered by Wells Fargo & Company from $29.00 to $26.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on RCUS. Bank of America dropped their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley lowered their price objective on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Barclays reduced their target price on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, HC Wainwright raised Arcus Biosciences from a "neutral" rating to a "buy" rating and upped their price target for the company from $18.00 to $24.00 in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.67.

Arcus Biosciences Stock Down 2.9 %

Shares of NYSE RCUS traded down $0.25 on Wednesday, reaching $8.28. 1,185,733 shares of the company's stock traded hands, compared to its average volume of 829,134. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The business's 50 day simple moving average is $8.40 and its two-hundred day simple moving average is $12.43. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a market cap of $876.73 million, a price-to-earnings ratio of -2.63 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company had revenue of $28.00 million during the quarter, compared to the consensus estimate of $38.61 million. During the same period last year, the firm posted ($0.05) earnings per share. The company's revenue was down 80.7% compared to the same quarter last year. As a group, equities research analysts forecast that Arcus Biosciences will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other news, CEO Terry J. Rosen bought 19,800 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.18 per share, for a total transaction of $201,564.00. Following the purchase, the chief executive officer now owns 2,554,160 shares in the company, valued at approximately $26,001,348.80. The trade was a 0.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yasunori Kaneko purchased 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.06 per share, for a total transaction of $201,200.00. Following the acquisition, the director now directly owns 28,400 shares of the company's stock, valued at approximately $285,704. This represents a 238.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RCUS. Barclays PLC raised its holdings in Arcus Biosciences by 49.0% during the third quarter. Barclays PLC now owns 118,693 shares of the company's stock valued at $1,816,000 after acquiring an additional 39,015 shares during the period. JPMorgan Chase & Co. raised its stake in Arcus Biosciences by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock valued at $668,000 after purchasing an additional 1,117 shares during the period. Nordea Investment Management AB lifted its holdings in Arcus Biosciences by 2.5% in the 4th quarter. Nordea Investment Management AB now owns 218,930 shares of the company's stock worth $3,245,000 after purchasing an additional 5,246 shares in the last quarter. R Squared Ltd bought a new position in Arcus Biosciences in the 4th quarter worth approximately $26,000. Finally, Principal Financial Group Inc. grew its holdings in Arcus Biosciences by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 263,517 shares of the company's stock valued at $3,924,000 after buying an additional 7,906 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

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.