Arcus Biosciences (NYSE:RCUS) Price Target Lowered to $26.00 at Wells Fargo & Company

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

Several other analysts have also recently commented on RCUS. Morgan Stanley decreased their target price on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Bank of America decreased their target price on Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Barclays decreased their target price on Arcus Biosciences from $29.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, HC Wainwright upgraded Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their price objective for the stock 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Arcus Biosciences has an average rating of "Moderate Buy" and a consensus price target of $25.67.

Arcus Biosciences Price Performance

Shares of RCUS traded up $0.50 during trading hours on Wednesday, hitting $8.78. 979,540 shares of the company were exchanged, compared to its average volume of 832,150. The company has a market capitalization of $929.14 million, a PE ratio of -2.79 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a fifty day simple moving average of $8.40 and a 200-day simple moving average of $12.35. Arcus Biosciences has a one year low of $6.50 and a one year high of $18.98.

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

Insider Activity

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

Institutional Trading of Arcus Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in RCUS. R Squared Ltd bought a new stake in shares of Arcus Biosciences during the 4th quarter valued at $26,000. Lazard Asset Management LLC grew its holdings in shares of Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock valued at $93,000 after buying an additional 6,078 shares during the period. US Bancorp DE grew its holdings in shares of Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after buying an additional 6,615 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Arcus Biosciences by 40.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 13,922 shares of the company's stock valued at $109,000 after buying an additional 4,013 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Arcus Biosciences by 21.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,381 shares of the company's stock valued at $121,000 after buying an additional 2,700 shares during the period. Institutional investors own 92.89% of the company's stock.

About Arcus Biosciences

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.