Arcus Biosciences (NYSE:RCUS) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Arcus Biosciences (NYSE:RCUS) from a buy rating to a hold rating in a research note issued to investors on Tuesday, ValuEngine reports.

RCUS has been the subject of several other reports. Mizuho initiated coverage on shares of Arcus Biosciences in a research report on Wednesday, December 18th. They issued a buy rating and a $22.00 target price for the company. SunTrust Banks initiated coverage on shares of Arcus Biosciences in a research report on Tuesday, November 12th. They issued a buy rating and a $20.00 target price for the company. Finally, Zacks Investment Research lowered shares of Arcus Biosciences from a buy rating to a hold rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Arcus Biosciences has a consensus rating of Buy and an average target price of $17.35.

NYSE:RCUS traded up $0.16 during midday trading on Tuesday, hitting $10.41. The company had a trading volume of 3,579 shares, compared to its average volume of 76,000. Arcus Biosciences has a 52-week low of $6.30 and a 52-week high of $13.66. The stock’s fifty day moving average price is $9.23 and its 200-day moving average price is $8.37. The company has a market capitalization of $460.42 million, a PE ratio of -7.28 and a beta of 1.14.

Arcus Biosciences (NYSE:RCUS) last announced its earnings results on Tuesday, November 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.02). Arcus Biosciences had a negative return on equity of 38.73% and a negative net margin of 1,180.37%. The company had revenue of $1.75 million during the quarter, compared to analysts’ expectations of $1.34 million. On average, sell-side analysts predict that Arcus Biosciences will post -2.2 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY boosted its position in Arcus Biosciences by 14.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 11,546 shares of the company’s stock valued at $105,000 after buying an additional 1,421 shares during the period. Millennium Management LLC boosted its stake in shares of Arcus Biosciences by 5.3% during the 3rd quarter. Millennium Management LLC now owns 188,499 shares of the company’s stock worth $1,715,000 after purchasing an additional 9,468 shares during the period. California State Teachers Retirement System boosted its stake in shares of Arcus Biosciences by 3.0% during the 3rd quarter. California State Teachers Retirement System now owns 50,587 shares of the company’s stock worth $460,000 after purchasing an additional 1,464 shares during the period. State Street Corp boosted its position in Arcus Biosciences by 1.0% in the 3rd quarter. State Street Corp now owns 617,246 shares of the company’s stock valued at $5,617,000 after buying an additional 6,133 shares during the period. Finally, Parallel Advisors LLC boosted its position in Arcus Biosciences by 13,668.8% in the 3rd quarter. Parallel Advisors LLC now owns 86,055 shares of the company’s stock valued at $783,000 after buying an additional 85,430 shares during the period. Institutional investors own 45.28% of the company’s stock.

About Arcus Biosciences

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

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