Arcus Biosciences, Inc. (NYSE:RCUS) Receives $41.25 Consensus Target Price from Analysts

Arcus Biosciences, Inc. (NYSE:RCUSGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.25.

A number of brokerages have commented on RCUS. Wedbush dropped their target price on shares of Arcus Biosciences from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Mizuho lowered their price target on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Morgan Stanley lowered their price target on shares of Arcus Biosciences from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, November 13th. Finally, Cantor Fitzgerald lowered their price target on shares of Arcus Biosciences from $46.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, November 8th.

View Our Latest Research Report on Arcus Biosciences

Insider Activity at Arcus Biosciences

In other news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the transaction, the insider now directly owns 30,061,124 shares of the company’s stock, valued at approximately $631,283,604. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Gilead Sciences, Inc. bought 15,238,095 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $21.00 per share, with a total value of $319,999,995.00. Following the completion of the transaction, the insider now directly owns 30,061,124 shares of the company’s stock, valued at approximately $631,283,604. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Juan C. Jaen sold 6,975 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.09, for a total transaction of $140,127.75. Following the completion of the transaction, the president now directly owns 1,215,265 shares of the company’s stock, valued at approximately $24,414,673.85. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock valued at $562,421 over the last 90 days. Insiders own 13.80% of the company’s stock.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new stake in shares of Arcus Biosciences in the second quarter worth $142,000. Louisiana State Employees Retirement System increased its holdings in Arcus Biosciences by 13.6% in the second quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the company’s stock valued at $561,000 after buying an additional 3,300 shares in the last quarter. Barclays PLC increased its holdings in Arcus Biosciences by 183.4% in the third quarter. Barclays PLC now owns 470,776 shares of the company’s stock valued at $8,451,000 after buying an additional 304,683 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arcus Biosciences by 20.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,732 shares of the company’s stock valued at $246,000 after buying an additional 2,289 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Arcus Biosciences by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 59,499 shares of the company’s stock valued at $1,208,000 after buying an additional 4,298 shares in the last quarter. Institutional investors and hedge funds own 74.67% of the company’s stock.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $16.47 on Tuesday. The company has a market capitalization of $1.23 billion, a P/E ratio of -4.12 and a beta of 0.78. The company’s 50-day simple moving average is $16.91 and its two-hundred day simple moving average is $17.37. Arcus Biosciences has a one year low of $12.95 and a one year high of $25.47.

About Arcus Biosciences

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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 investigational monoclonal 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.

Further Reading

Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

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