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

Arcus Biosciences (NYSE:RCUS) had its price target cut by investment analysts at Morgan Stanley from $36.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 127.38% from the company’s current price.

Several other analysts also recently issued reports on RCUS. HC Wainwright decreased their price objective on shares of Arcus Biosciences from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays lifted their price objective 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. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Arcus Biosciences in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Arcus Biosciences currently has an average rating of “Buy” and an average target price of $31.29.

Arcus Biosciences Price Performance

Shares of RCUS stock traded down $2.11 on Tuesday, reaching $11.00. The company’s stock had a trading volume of 3,902,087 shares, compared to its average volume of 707,939. The stock’s fifty day simple moving average is $14.41 and its 200-day simple moving average is $15.66. Arcus Biosciences has a 1 year low of $10.65 and a 1 year high of $20.31. 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 company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.49 and a beta of 0.84.

Insider Activity

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Arcus Biosciences by 2.5% during the 4th 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 position in Arcus Biosciences by 2.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company’s stock valued at $471,000 after buying an additional 843 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Arcus Biosciences by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company’s stock valued at $668,000 after buying an additional 1,117 shares during the period. R Squared Ltd purchased a new position in Arcus Biosciences during the 4th quarter worth $26,000. Finally, Teacher Retirement System of Texas lifted 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 acquiring an additional 2,410 shares during the period. 92.89% of the stock is owned by hedge funds and other 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.