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

Arcus Biosciences (NYSE:RCUS) had its price objective cut by analysts at Bank of America from $22.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 58.07% from the stock’s current price.

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

Arcus Biosciences Stock Down 3.1 %

Arcus Biosciences stock opened at $10.76 on Wednesday. The stock has a market capitalization of $984.21 million, a PE ratio of -3.41 and a beta of 0.84. Arcus Biosciences has a 12 month low of $10.63 and a 12 month high of $20.31. The business has a 50 day simple moving average of $14.02 and a 200-day simple moving average of $15.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of the business. Gilead Sciences Inc. acquired a new stake in shares of Arcus Biosciences during the 4th quarter worth about $447,610,000. FMR LLC increased its position in shares of Arcus Biosciences by 6.9% during the 3rd quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after purchasing an additional 286,766 shares during the last quarter. Woodline Partners LP increased its position in shares of Arcus Biosciences by 1.3% during the 4th quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after purchasing an additional 45,497 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Arcus Biosciences by 32.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after purchasing an additional 603,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Arcus Biosciences by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock worth $25,348,000 after purchasing an additional 178,351 shares during the last quarter. Institutional investors and hedge funds 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.