Bank of America Issues Pessimistic Forecast for Arcus Biosciences (NYSE:RCUS) Stock Price

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

RCUS has been the topic of several other reports. Barclays increased their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Morgan Stanley reduced their target price on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday. HC Wainwright reduced their target price on Arcus Biosciences from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Wedbush reissued an "outperform" rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Arcus Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $29.50.

Arcus Biosciences Stock Performance

RCUS stock traded up $0.32 during trading hours on Wednesday, hitting $11.06. 1,238,476 shares of the stock were exchanged, compared to its average volume of 881,094. 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 capitalization of $1.01 billion, a P/E ratio of -3.51 and a beta of 0.84. The company has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $15.56. Arcus Biosciences has a 12 month low of $10.63 and a 12 month high of $20.31.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the firm'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 directly owns 60,138 shares of the company's stock, valued at $902,070. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Arcus Biosciences

Several large investors have recently bought and sold shares of the business. Woodline Partners LP boosted its stake 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 valued at $52,471,000 after purchasing an additional 45,497 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Arcus Biosciences by 35.8% during the fourth quarter. Two Sigma Advisers LP now owns 58,800 shares of the company's stock valued at $876,000 after purchasing an additional 15,500 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Arcus Biosciences by 8.1% during the fourth quarter. Two Sigma Investments LP now owns 146,686 shares of the company's stock valued at $2,184,000 after purchasing an additional 11,027 shares in the last quarter. Tema Etfs LLC acquired a new stake in shares of Arcus Biosciences during the fourth quarter valued at about $331,000. Finally, ProShare Advisors LLC boosted its stake in shares of Arcus Biosciences by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 16,379 shares of the company's stock valued at $244,000 after purchasing an additional 5,038 shares in the last quarter. 92.89% of the stock is 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.