Arcus Biosciences, Inc. (NYSE:RCUS) Receives $41.25 Average Price Target from Brokerages

by · The Markets Daily

Shares of Arcus Biosciences, Inc. (NYSE:RCUS – Get Free Report) have received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $41.25.

Several research firms have recently commented on RCUS. Wedbush reduced their target price on shares of Arcus Biosciences from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Cantor Fitzgerald reduced their target price on shares of Arcus Biosciences from $46.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th. Mizuho reduced their target price on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Finally, Morgan Stanley reduced their target price on shares of Arcus Biosciences from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, November 13th.

Check Out Our Latest Analysis on RCUS

Insider Activity

In other news, COO Jennifer Jarrett sold 21,521 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $17.76, for a total value of $382,212.96. Following the completion of the transaction, the chief operating officer now owns 258,878 shares in the company, valued at approximately $4,597,673.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcus Biosciences news, COO Jennifer Jarrett sold 21,521 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $17.76, for a total transaction of $382,212.96. Following the completion of the transaction, the chief operating officer now directly owns 258,878 shares in the company, valued at approximately $4,597,673.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert C. Goeltz II sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $20.00, for a total transaction of $40,080.00. Following the transaction, the chief financial officer now owns 51,831 shares of the company’s stock, valued at $1,036,620. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock worth $562,421 in the last 90 days. 13.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently added to or reduced their stakes in RCUS. BluePath Capital Management LLC acquired a new stake in shares of Arcus Biosciences during the 3rd quarter worth about $28,000. GAMMA Investing LLC acquired a new stake in shares of Arcus Biosciences during the 4th quarter worth about $31,000. Osaic Holdings Inc. boosted its stake in shares of Arcus Biosciences by 51.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,620 shares of the company’s stock worth $34,000 after purchasing an additional 550 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Arcus Biosciences during the 3rd quarter worth about $36,000. Finally, Captrust Financial Advisors boosted its stake in shares of Arcus Biosciences by 402.9% during the 2nd quarter. Captrust Financial Advisors now owns 2,072 shares of the company’s stock worth $53,000 after purchasing an additional 1,660 shares during the last quarter. 74.67% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Performance

RCUS stock opened at $16.47 on Tuesday. Arcus Biosciences has a one year low of $12.95 and a one year high of $25.47. The stock has a market capitalization of $1.23 billion, a PE ratio of -4.12 and a beta of 0.78. The company has a fifty day moving average of $16.91 and a 200-day moving average of $17.37.

Arcus Biosciences Company Profile

(Get Free Report

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 investigational monoclonal 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.

Further Reading