Arcus Biosciences (NYSE:RCUS) Price Target Cut to $18.00 by Analysts at HC Wainwright

Arcus Biosciences (NYSE:RCUS) had its price objective cut by HC Wainwright from $20.00 to $18.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wedbush reiterated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has a consensus rating of “Buy” and an average target price of $31.29.

Arcus Biosciences Stock Down 16.1 %

RCUS stock opened at $11.00 on Tuesday. The company has a market cap of $1.01 billion, a PE ratio of -3.49 and a beta of 0.84. The business has a 50-day simple moving average of $14.28 and a 200 day simple moving average of $15.63. Arcus Biosciences has a 52 week low of $10.65 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.

Insider Transactions at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction 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. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd bought a new stake in Arcus Biosciences in the fourth quarter valued at approximately $26,000. Point72 Hong Kong Ltd bought a new stake in Arcus Biosciences in the third quarter valued at approximately $47,000. Lazard Asset Management LLC boosted its holdings in Arcus Biosciences by 3,321.3% in the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company’s stock valued at $93,000 after acquiring an additional 6,078 shares during the last quarter. US Bancorp DE boosted its holdings in Arcus Biosciences by 2,432.0% in the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after acquiring an additional 6,615 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after acquiring an additional 9,408 shares during the last quarter. 92.89% of the stock is currently 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.