Arcus Biosciences (NYSE:RCUS) Rating Lowered to “Hold” at Wells Fargo & Company

Arcus Biosciences (NYSE:RCUS) was downgraded by equities research analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on RCUS. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. Wedbush set a $35.00 price target on Arcus Biosciences and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group raised Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $28.00 in a report on Monday, January 12th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arcus Biosciences has an average rating of “Moderate Buy” and an average price target of $29.33.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $19.88 on Thursday. The stock has a market cap of $2.15 billion, a PE ratio of -5.78 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The firm has a 50-day moving average of $22.47 and a 200-day moving average of $17.67. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40.

Insider Buying and Selling

In related news, General Counsel Carolyn C. Tang sold 7,658 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $167,557.04. Following the transaction, the general counsel owned 131,544 shares in the company, valued at approximately $2,878,182.72. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Jarrett sold 11,225 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $245,603.00. Following the completion of the transaction, the chief operating officer directly owned 203,007 shares of the company’s stock, valued at approximately $4,441,793.16. This trade represents a 5.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 315,887 shares of company stock worth $7,087,692 in the last quarter. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently bought and sold shares of RCUS. GAMMA Investing LLC increased its holdings 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. Hantz Financial Services Inc. boosted its position in shares of Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after acquiring an additional 881 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after acquiring an additional 2,845 shares during the last quarter. CWM LLC raised its position in Arcus Biosciences by 233.6% during the second quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after purchasing an additional 3,810 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in Arcus Biosciences by 34.3% during the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after purchasing an additional 1,796 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.