TUE., DECEMBER 20, 2022MARKETBEAT
Arcus Biosciences (NYSE:RCUS – Get Rating) had its target price hoisted by investment analysts at Citigroup from $37.00 to $42.00 in a note issued to investors on Tuesday, The Fly reports. Citigroup’s target price points to a potential upside of 37.66% from the company’s current price.
RCUS has been the topic of several other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Wednesday, September 21st. SVB Leerink lowered their price target 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. Bank of America started coverage on shares of Arcus Biosciences in a research report on Friday, November 18th. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Arcus Biosciences in a research report on Tuesday, October 11th. They issued an “overweight” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $41.25.
Arcus Biosciences Stock Performance
Shares of RCUS stock opened at $30.51 on Tuesday. The firm’s 50-day simple moving average is $28.65 and its two-hundred day simple moving average is $26.76. Arcus Biosciences has a 52 week low of $16.74 and a 52 week high of $45.90. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 33.16 and a beta of 0.70.
Insider Activity at Arcus Biosciences
In related news, CEO Terry J. Rosen sold 13,043 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $30.75, for a total transaction of $401,072.25. Following the completion of the transaction, the chief executive officer now owns 242,173 shares of the company’s stock, valued at $7,446,819.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Arcus Biosciences news, CEO Terry J. Rosen sold 13,043 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $30.75, for a total value of $401,072.25. Following the completion of the transaction, the chief executive officer now owns 242,173 shares of the company’s stock, valued at approximately $7,446,819.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Carolyn C. Tang sold 2,523 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $30.75, for a total transaction of $77,582.25. Following the completion of the transaction, the general counsel now directly owns 28,584 shares of the company’s stock, valued at approximately $878,958. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,937 shares of company stock valued at $1,197,313. Corporate insiders own 12.70% of the company’s stock.
Hedge Funds Weigh In On Arcus Biosciences
A number of hedge funds and other institutional investors have recently bought and sold shares of RCUS. Teacher Retirement System of Texas boosted its stake in shares of Arcus Biosciences by 8.0% in the 1st quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock valued at $251,000 after purchasing an additional 590 shares in the last quarter. Swiss National Bank boosted its stake in shares of Arcus Biosciences by 5.5% in the 1st quarter. Swiss National Bank now owns 91,296 shares of the company’s stock valued at $2,881,000 after purchasing an additional 4,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Arcus Biosciences in the 1st quarter valued at $939,000. GSA Capital Partners LLP boosted its stake in shares of Arcus Biosciences by 154.6% in the 1st quarter. GSA Capital Partners LLP now owns 15,809 shares of the company’s stock valued at $499,000 after purchasing an additional 9,599 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Arcus Biosciences by 1.7% in the 1st quarter. American Century Companies Inc. now owns 117,715 shares of the company’s stock valued at $3,715,000 after purchasing an additional 1,911 shares in the last quarter. Hedge funds and other institutional investors own 72.61% of the company’s stock.
About Arcus Biosciences
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.