Arcus Biosciences (NYSE:RCUS) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Arcus Biosciences (NYSE:RCUS) from a buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “Arcus Biosciences is a biopharmaceutical company. It focused on creating innovative cancer immunotherapies. The company’s product portfolio includes AB928, AB122, AB154 and AB680. AB928 which is in its final phase is a potent and selective dual antagonist of the adenosine receptors. AB122 which is in its Phase1 is a monoclonal antibody which potently and selectively blocks a protein called PD-1. AB154 is a monoclonal antibody which potently and selectively blocks a novel immune checkpoint called TIGIT. AB680, which is in its Phase1 is a potent and selective inhibitor of CD73, the enzyme responsible for the extracellular production of adenosine within the tumor micro-environment. Arcus Biosciences is based in Hayward, CA. “

A number of other research analysts have also recently issued reports on RCUS. ValuEngine upgraded shares of Arcus Biosciences from a hold rating to a buy rating in a report on Thursday, August 1st. Citigroup decreased their price objective on shares of Arcus Biosciences from $25.00 to $15.00 and set an in-line rating for the company in a report on Wednesday, June 5th. Finally, Svb Leerink restated an outperform rating on shares of Arcus Biosciences in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $16.56.

Shares of NYSE:RCUS traded down $0.18 during trading on Thursday, hitting $7.28. 168,335 shares of the company’s stock were exchanged, compared to its average volume of 142,118. Arcus Biosciences has a 1-year low of $6.30 and a 1-year high of $16.06. The company’s 50-day moving average is $8.22. The company has a market capitalization of $300.61 million, a price-to-earnings ratio of -5.09 and a beta of 1.02.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.24). The business had revenue of $1.75 million for the quarter, compared to analyst estimates of $4.54 million. Arcus Biosciences had a negative return on equity of 29.45% and a negative net margin of 736.31%. On average, equities analysts expect that Arcus Biosciences will post -1.64 EPS for the current fiscal year.

In other Arcus Biosciences news, President Juan C. Jaen acquired 15,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $7.59 per share, with a total value of $113,850.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Juan C. Jaen acquired 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $8.25 per share, for a total transaction of $82,500.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 140,343 shares of company stock worth $1,120,078. 19.23% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in Arcus Biosciences during the 2nd quarter valued at approximately $128,000. JPMorgan Chase & Co. raised its stake in shares of Arcus Biosciences by 5.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 515,262 shares of the company’s stock valued at $3,983,000 after purchasing an additional 26,709 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Arcus Biosciences by 17.3% in the 2nd quarter. GSA Capital Partners LLP now owns 16,243 shares of the company’s stock valued at $129,000 after purchasing an additional 2,392 shares in the last quarter. White Pine Investment CO acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at about $151,000. Finally, Aperio Group LLC acquired a new stake in shares of Arcus Biosciences in the 2nd quarter valued at about $32,000. 46.56% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

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