HC Wainwright Cuts Arcus Biosciences (NYSE:RCUS) Price Target to $18.00

Arcus Biosciences (NYSE:RCUS) had its price target lowered by investment analysts at HC Wainwright from $20.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 63.71% from the company’s current price.

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

Arcus Biosciences Price Performance

Shares of RCUS stock traded down $2.11 during trading hours on Tuesday, hitting $11.00. 3,902,087 shares of the company’s stock were exchanged, compared to its average volume of 707,939. Arcus Biosciences has a fifty-two week low of $10.65 and a fifty-two week high of $20.31. The firm has a market cap of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $14.41 and a two-hundred day moving average of $15.66.

Insider Activity at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 60,138 shares of the company’s stock, valued at approximately $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gilead Sciences Inc. purchased a new position in shares of Arcus Biosciences during the 4th quarter worth $447,610,000. FMR LLC increased its stake in Arcus Biosciences by 6.9% during the third quarter. FMR LLC now owns 4,467,557 shares of the company’s stock worth $68,309,000 after purchasing an additional 286,766 shares during the period. Woodline Partners LP lifted its position in shares of Arcus Biosciences by 1.3% during the fourth quarter. Woodline Partners LP now owns 3,523,937 shares of the company’s stock worth $52,471,000 after purchasing an additional 45,497 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Arcus Biosciences by 32.9% in the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock valued at $37,263,000 after purchasing an additional 603,222 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Arcus Biosciences by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,702,302 shares of the company’s stock valued at $25,348,000 after purchasing an additional 178,351 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.