Bank of America Has Lowered Expectations for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS) had its target price reduced by Bank of America from $22.00 to $17.00 in a research report released on Wednesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other brokerages also recently commented on RCUS. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. HC Wainwright reduced their target price on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays raised their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley reduced their target price on Arcus Biosciences from $36.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Arcus Biosciences Stock Performance

RCUS stock opened at $11.06 on Wednesday. The stock has a 50-day moving average price of $13.92 and a 200-day moving average price of $15.55. Arcus Biosciences has a 1-year low of $10.63 and a 1-year high of $20.31. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.01 billion, a PE ratio of -3.51 and a beta of 0.84.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences 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 completion of the transaction, the chief financial officer now owns 60,138 shares in the company, valued at approximately $902,070. The trade was a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new position in shares of Arcus Biosciences in the third quarter valued at approximately $47,000. Lazard Asset Management LLC grew its holdings in shares of 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 in the last quarter. US Bancorp DE grew its holdings in shares of 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 in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of 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 in 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.