HC Wainwright Has Lowered Expectations for Arcus Biosciences (NYSE:RCUS) Stock Price

Arcus Biosciences (NYSE:RCUS) had its target price decreased by equities research analysts at HC Wainwright from $20.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 63.71% from the company’s previous close.

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

Arcus Biosciences Stock Down 16.1 %

NYSE:RCUS traded down $2.11 during mid-day trading on Tuesday, hitting $11.00. 3,902,087 shares of the company’s stock traded hands, compared to its average volume of 707,939. 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 company has a market capitalization of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84. The company has a fifty day moving average of $14.41 and a 200 day moving average of $15.66. Arcus Biosciences has a twelve month low of $10.65 and a twelve month high of $20.31.

Insider Buying and Selling at Arcus Biosciences

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total value of $53,910.00. Following the sale, the chief financial officer now owns 60,138 shares in the company, valued at $902,070. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Arcus Biosciences in the 4th quarter worth approximately $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at $47,000. Lazard Asset Management LLC boosted its holdings in Arcus Biosciences by 3,321.3% during the fourth 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 position in Arcus Biosciences by 2,432.0% during the fourth quarter. US Bancorp DE now owns 6,887 shares of the company’s stock valued at $103,000 after buying an additional 6,615 shares during the period. Finally, Quest Partners LLC grew its position in Arcus Biosciences by 40,904.3% during the third quarter. Quest Partners LLC now owns 9,431 shares of the company’s stock valued at $144,000 after buying an additional 9,408 shares during the period. 92.89% of the stock is currently owned by hedge funds and other 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.