Arcus Biosciences, Inc. (NYSE:RCUS) Receives $31.29 Consensus Target Price from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has received an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.50.

A number of research analysts recently weighed in on RCUS shares. HC Wainwright cut their price target on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays raised their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America cut their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Arcus Biosciences in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on shares of Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday.

Arcus Biosciences Stock Performance

Shares of Arcus Biosciences stock opened at $10.76 on Tuesday. The business’s fifty day simple moving average is $14.02 and its 200-day simple moving average is $15.56. Arcus Biosciences has a 52 week low of $10.63 and a 52 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 firm has a market cap of $984.21 million, a PE ratio of -3.41 and a beta of 0.84.

Insiders Place Their Bets

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total transaction of $53,910.00. Following the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at approximately $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Gilead Sciences Inc. bought a new position in shares of Arcus Biosciences during the 4th quarter worth approximately $447,610,000. Boxer Capital Management LLC acquired a new position in shares of Arcus Biosciences during the fourth quarter valued at $23,857,000. Braidwell LP acquired a new position in Arcus Biosciences during the 4th quarter valued at about $11,943,000. Millennium Management LLC boosted its stake in Arcus Biosciences by 277.1% in the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock valued at $13,764,000 after acquiring an additional 679,267 shares during the last quarter. Finally, Parkman Healthcare Partners LLC boosted its position in shares of Arcus Biosciences by 146.9% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after purchasing an additional 610,219 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.