Arcus Biosciences (NYSE:RCUS) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company cut shares of Arcus Biosciences (NYSE:RCUS) from an overweight rating to an equal weight rating in a report released on Thursday morning, Marketbeat.com reports. Wells Fargo & Company currently has $23.00 target price on the stock, down from their prior target price of $30.00.

Other analysts have also issued reports about the company. UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, January 21st. HC Wainwright increased their price objective on Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Wall Street Zen cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Bank of America boosted their target price on shares of Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Moderate Buy” and an average price target of $29.33.

Arcus Biosciences Price Performance

NYSE RCUS opened at $18.87 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -5.48 and a beta of 0.84. The company has a 50 day simple moving average of $22.34 and a 200-day simple moving average of $17.79. Arcus Biosciences has a 52-week low of $6.50 and a 52-week high of $26.40.

Insiders Place Their Bets

In related news, CAO Alexander Azoy sold 4,343 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $22.25, for a total value of $96,631.75. Following the transaction, the chief accounting officer directly owned 18,531 shares in the company, valued at approximately $412,314.75. This trade represents a 18.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert C. Goeltz II sold 6,552 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $23.38, for a total transaction of $153,185.76. Following the transaction, the chief financial officer directly owned 67,924 shares of the company’s stock, valued at approximately $1,588,063.12. This represents a 8.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 315,887 shares of company stock valued at $7,087,692 in the last three months. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. GAMMA Investing LLC boosted its position in shares of Arcus Biosciences by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after acquiring an additional 482 shares during the period. Amalgamated Bank boosted its holdings in Arcus Biosciences by 3.9% in the 3rd quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock valued at $266,000 after purchasing an additional 736 shares during the period. Creative Planning boosted its holdings in Arcus Biosciences by 2.7% in the 3rd quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after purchasing an additional 771 shares during the period. Hantz Financial Services Inc. grew its position in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Arcus Biosciences by 1.1% during the fourth quarter. New York State Teachers Retirement System now owns 92,431 shares of the company’s stock valued at $2,203,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

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.