Bank of America Cuts Arcus Biosciences (NYSE:RCUS) Price Target to $17.00

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

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

Arcus Biosciences Trading Up 3.0 %

Shares of RCUS stock opened at $11.06 on Wednesday. The stock’s fifty day moving average price is $13.92 and its two-hundred day moving average price is $15.55. The company has a market cap of $1.01 billion, a PE ratio of -3.51 and a beta of 0.84. Arcus Biosciences has a fifty-two week low of $10.63 and a fifty-two week high of $20.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RCUS. Gilead Sciences Inc. bought a new position in Arcus Biosciences during the 4th quarter worth $447,610,000. Boxer Capital Management LLC bought a new position in Arcus Biosciences during the 4th quarter worth $23,857,000. Braidwell LP bought a new position in Arcus Biosciences during the 4th quarter worth $11,943,000. Millennium Management LLC raised its position in shares of Arcus Biosciences by 277.1% in the 4th quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after acquiring an additional 679,267 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its position in shares of Arcus Biosciences by 146.9% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after acquiring an additional 610,219 shares in the last quarter. 92.89% of the stock is owned by institutional investors.

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.