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

Arcus Biosciences (NYSE:RCUS) had its price target lowered by investment analysts at Bank of America from $22.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 54.62% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, HC Wainwright reduced their price target on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two research 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 company’s stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $11.00 on Wednesday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. Arcus Biosciences has a fifty-two week low of $10.65 and a fifty-two week high of $20.31. The business has a 50 day moving average price of $14.28 and a two-hundred day moving average price of $15.63. The firm has a market cap of $1.01 billion, a PE ratio of -3.49 and a beta of 0.84.

Insider Activity

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction that occurred 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 owns 60,138 shares of the company’s stock, valued at approximately $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently added to or reduced their stakes in the stock. Gilead Sciences Inc. acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at $447,610,000. Boxer Capital Management LLC acquired a new position in Arcus Biosciences during the 4th quarter valued at about $23,857,000. Braidwell LP bought a new position in Arcus Biosciences in the 4th quarter worth about $11,943,000. Millennium Management LLC grew its position in Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after purchasing an additional 679,267 shares during the last quarter. Finally, Parkman Healthcare Partners LLC increased its stake in shares of Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock valued at $15,684,000 after purchasing an additional 610,219 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

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.