Morgan Stanley Cuts Arcus Biosciences (NYSE:RCUS) Price Target to $25.00

Arcus Biosciences (NYSE:RCUS) had its price target decreased by stock analysts at Morgan Stanley from $36.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 127.38% from the company’s current price.

A number of other research firms have also recently commented on RCUS. HC Wainwright lowered their target price on Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Wedbush reiterated an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, Barclays boosted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.29.

Arcus Biosciences Stock Down 16.1 %

RCUS traded down $2.11 on Tuesday, hitting $11.00. The company had a trading volume of 3,902,087 shares, compared to its average volume of 707,939. The stock has a fifty day simple moving average of $14.41 and a 200-day simple moving average of $15.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market capitalization of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84. Arcus Biosciences has a 52-week low of $10.65 and a 52-week high of $20.31.

Insider Transactions at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of Arcus Biosciences stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value 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 approximately $902,070. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently made changes to their positions in RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Arcus Biosciences by 2.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company’s stock valued at $506,000 after acquiring an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Arcus Biosciences by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock worth $471,000 after acquiring an additional 843 shares during the period. JPMorgan Chase & Co. raised 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 valued at $668,000 after purchasing an additional 1,117 shares during the last quarter. R Squared Ltd bought a new position in Arcus Biosciences during the fourth quarter valued at approximately $26,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Arcus Biosciences by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,952 shares of the company’s stock worth $223,000 after buying an additional 2,410 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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.