Arcus Biosciences, Inc. (NYSE:RCUS) Receives Average Recommendation of “Buy” from Analysts

Arcus Biosciences, Inc. (NYSE:RCUS) has received an average recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.29.

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

Insiders Place Their Bets

In other Arcus Biosciences 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 transaction of $53,910.00. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently modified their holdings of the stock. Gilead Sciences Inc. purchased a new position in Arcus Biosciences during the 4th quarter worth $447,610,000. Boxer Capital Management LLC acquired a new position in shares of Arcus Biosciences during the fourth quarter worth about $23,857,000. Braidwell LP purchased a new position in Arcus Biosciences during the fourth quarter worth about $11,943,000. Millennium Management LLC raised its holdings in Arcus Biosciences by 277.1% during the fourth 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 in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in 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. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Stock Down 16.1 %

Shares of NYSE RCUS traded down $2.11 during midday trading on Tuesday, hitting $11.00. 4,655,000 shares of the company’s stock were exchanged, compared to its average volume of 739,628. The firm’s fifty day simple moving average is $14.41 and its 200-day simple moving average is $15.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The company has a market cap of $1.01 billion, a PE ratio of -3.49 and a beta of 0.84. Arcus Biosciences has a twelve month low of $10.65 and a twelve month high of $20.31.

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.