Arcus Biosciences (NYSE:RCUS) Price Target Lowered to $17.00 at Bank of America

Arcus Biosciences (NYSE:RCUS) had its price objective trimmed by Bank of America from $22.00 to $17.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on RCUS. HC Wainwright lowered their target price on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. Morgan Stanley cut their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays upped their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Arcus Biosciences has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Arcus Biosciences Price Performance

RCUS stock opened at $11.09 on Wednesday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -3.52 and a beta of 0.84. Arcus Biosciences has a fifty-two week low of $10.65 and a fifty-two week high of $20.31. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $14.15 and a 200 day moving average price of $15.60.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcus Biosciences

A number of large investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in shares of Arcus Biosciences by 59.8% in the third quarter. Jane Street Group LLC now owns 217,041 shares of the company’s stock valued at $3,319,000 after acquiring an additional 81,193 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Arcus Biosciences by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 566,979 shares of the company’s stock valued at $8,669,000 after purchasing an additional 59,536 shares in the last quarter. GSA Capital Partners LLP increased its position in Arcus Biosciences by 17.8% during the 3rd quarter. GSA Capital Partners LLP now owns 187,415 shares of the company’s stock worth $2,866,000 after purchasing an additional 28,307 shares during the period. Parkman Healthcare Partners LLC raised its stake in shares of Arcus Biosciences by 146.9% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after buying an additional 610,219 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Arcus Biosciences by 49.0% in the 3rd quarter. Barclays PLC now owns 118,693 shares of the company’s stock valued at $1,816,000 after buying an additional 39,015 shares during the period. Hedge funds and other 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.