Arcus Biosciences (NYSE:RCUS) Price Target Lowered to $25.00 at Morgan Stanley

Arcus Biosciences (NYSE:RCUS) had its price objective cut by Morgan Stanley from $36.00 to $25.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the company. Wedbush reissued an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a report on Thursday, November 7th. HC Wainwright lowered their price objective on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays boosted their price objective on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One research analyst has 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 presently has a consensus rating of “Buy” and an average price target of $31.29.

Arcus Biosciences Trading Down 16.1 %

NYSE:RCUS opened at $11.00 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -3.49 and a beta of 0.84. Arcus Biosciences has a one year low of $10.65 and a one year high of $20.31. The business’s 50-day simple moving average is $14.28 and its 200 day simple moving average is $15.63.

Insider Activity

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

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. R Squared Ltd bought a new position in Arcus Biosciences in the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new position in Arcus Biosciences in the 3rd quarter worth approximately $47,000. Lazard Asset Management LLC grew its holdings in Arcus Biosciences by 3,321.3% in the 4th quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock worth $93,000 after buying an additional 6,078 shares in the last quarter. US Bancorp DE grew its holdings in Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company’s stock worth $103,000 after buying an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Arcus Biosciences by 40,904.3% in the 3rd quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock worth $144,000 after buying an additional 9,408 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.