Arcus Biosciences (NYSE:RCUS) Earns Neutral Rating from Analysts at Bank of America

Bank of America started coverage on shares of Arcus Biosciences (NYSE:RCUSGet Rating) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $33.00 price objective on the stock.

A number of other research firms also recently commented on RCUS. SVB Leerink cut their target price on shares of Arcus Biosciences from $40.00 to $38.00 and set an outperform rating on the stock in a research report on Thursday, November 3rd. Morgan Stanley assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 11th. They issued an overweight rating and a $40.00 price objective on the stock. Wedbush cut their price objective on shares of Arcus Biosciences from $42.00 to $36.00 and set an outperform rating on the stock in a research report on Thursday, August 4th. Citigroup cut their price objective on shares of Arcus Biosciences from $48.00 to $40.00 in a research report on Thursday, August 18th. Finally, Cantor Fitzgerald reaffirmed an overweight rating on shares of Arcus Biosciences in a research report on Wednesday, September 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $41.00.

Arcus Biosciences Stock Performance

NYSE RCUS opened at $27.31 on Friday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 29.68 and a beta of 0.61. The company’s 50-day simple moving average is $26.67 and its two-hundred day simple moving average is $25.10. Arcus Biosciences has a one year low of $16.74 and a one year high of $49.10.

Insider Buying and Selling

In related news, COO Jennifer Jarrett sold 12,677 shares of Arcus Biosciences stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $26.28, for a total value of $333,151.56. Following the completion of the sale, the chief operating officer now directly owns 130,942 shares in the company, valued at approximately $3,441,155.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.70% of the stock is owned by company insiders.

Institutional Trading of Arcus Biosciences

A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SNC lifted its stake in Arcus Biosciences by 114.8% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 136,957 shares of the company’s stock valued at $3,583,000 after acquiring an additional 73,204 shares during the period. Algert Global LLC lifted its stake in Arcus Biosciences by 60.0% during the 3rd quarter. Algert Global LLC now owns 36,293 shares of the company’s stock valued at $949,000 after acquiring an additional 13,603 shares during the period. Thrivent Financial for Lutherans lifted its stake in Arcus Biosciences by 17.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 53,707 shares of the company’s stock valued at $1,405,000 after acquiring an additional 7,908 shares during the period. Two Sigma Advisers LP lifted its stake in Arcus Biosciences by 30.5% during the 3rd quarter. Two Sigma Advisers LP now owns 174,800 shares of the company’s stock valued at $4,573,000 after acquiring an additional 40,900 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Arcus Biosciences during the 3rd quarter valued at approximately $1,305,000. 72.61% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

(Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

See Also

Analyst Recommendations for Arcus Biosciences (NYSE:RCUS)

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