Arcus Biosciences (NYSE:RCUS) Price Target Cut to $25.00 by Analysts at Morgan Stanley

Arcus Biosciences (NYSE:RCUS - Get Free Report) had its price target lowered by investment analysts at Morgan Stanley from $36.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 126.04% from the stock's previous close.

A number of other brokerages have also commented on RCUS. HC Wainwright cut their price target on Arcus Biosciences from $20.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday. Barclays upped their price target on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, Wedbush restated an "outperform" rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.50.

Arcus Biosciences Stock Performance

Shares of RCUS stock traded up $0.32 during trading hours on Tuesday, reaching $11.06. 1,238,479 shares of the company's stock were exchanged, compared to its average volume of 894,829. Arcus Biosciences has a fifty-two week low of $10.63 and a fifty-two week high of $20.31. The stock has a market capitalization of $1.01 billion, a P/E ratio of -3.51 and a beta of 0.84. The business has a fifty day moving average price of $14.02 and a 200-day moving average price of $15.56. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the company's stock in a transaction on 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 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 12.30% of the company's stock.

Institutional Trading of Arcus Biosciences

A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arcus Biosciences by 2.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock worth $506,000 after purchasing an additional 833 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company's stock worth $471,000 after purchasing an additional 843 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock worth $668,000 after purchasing an additional 1,117 shares during the last quarter. R Squared Ltd bought a new stake in shares of Arcus Biosciences during the fourth quarter worth $26,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Arcus Biosciences by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company's stock worth $223,000 after purchasing an additional 2,410 shares during the last quarter. 92.89% of the stock is currently owned by 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.