Arcus Biosciences, Inc. (NYSE:RCUS) Given Average Recommendation of “Buy” by Brokerages

Arcus Biosciences, Inc. (NYSE:RCUS) has earned a consensus recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.29.

RCUS has been the topic of a number of research analyst reports. HC Wainwright reduced their target price on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday, November 7th. Barclays increased their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley reduced their price target on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday.

Insider Activity at Arcus Biosciences

In other 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 value of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Several large investors have recently bought and sold shares of RCUS. Woodline Partners LP grew its position in shares of Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after buying an additional 45,497 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Arcus Biosciences by 35.8% in the fourth quarter. Two Sigma Advisers LP now owns 58,800 shares of the company’s stock worth $876,000 after acquiring an additional 15,500 shares during the last quarter. Two Sigma Investments LP grew its holdings in Arcus Biosciences by 8.1% during the 4th quarter. Two Sigma Investments LP now owns 146,686 shares of the company’s stock worth $2,184,000 after acquiring an additional 11,027 shares in the last quarter. Tema Etfs LLC purchased a new stake in shares of Arcus Biosciences in the 4th quarter valued at approximately $331,000. Finally, ProShare Advisors LLC raised its holdings in shares of Arcus Biosciences by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 16,379 shares of the company’s stock valued at $244,000 after purchasing an additional 5,038 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Trading Down 16.1 %

Shares of RCUS stock traded down $2.11 during trading on Tuesday, hitting $11.00. 4,655,000 shares of the stock traded hands, compared to its average volume of 739,628. Arcus Biosciences has a 52-week low of $10.65 and a 52-week high of $20.31. The firm has a market capitalization of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84. The firm’s fifty day moving average price is $14.41 and its 200-day moving average price is $15.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

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.