Shares of Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) traded up 9% during trading on Wednesday after Citigroup raised their price target on the stock from $37.00 to $42.00. Citigroup currently has a buy rating on the stock. Arcus Biosciences traded as high as $22.71 and last traded at $22.44. 23,287 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 934,108 shares. The stock had previously closed at $20.59.
Other research analysts have also issued research reports about the stock. SVB Leerink dropped their price objective on shares of Arcus Biosciences from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcus Biosciences in a research report on Wednesday, September 21st. Morgan Stanley assumed coverage on shares of Arcus Biosciences in a research report on Tuesday, October 11th. They set an “overweight” rating and a $40.00 target price for the company. Finally, Bank of America assumed coverage on shares of Arcus Biosciences in a research report on Friday, November 18th. They set a “neutral” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.67.
Insider Transactions at Arcus Biosciences
In related news, CFO Robert C. Goeltz II sold 2,453 shares of Arcus Biosciences stock in a transaction on Friday, December 16th. The shares were sold at an average price of $30.75, for a total value of $75,429.75. Following the completion of the sale, the chief financial officer now owns 11,566 shares of the company’s stock, valued at approximately $355,654.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 2,453 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $30.75, for a total transaction of $75,429.75. Following the transaction, the chief financial officer now directly owns 11,566 shares in the company, valued at approximately $355,654.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Carolyn C. Tang sold 2,523 shares of the firm’s stock in a transaction on Friday, December 16th. The shares were sold at an average price of $30.75, for a total value of $77,582.25. Following the transaction, the general counsel now owns 28,584 shares in the company, valued at $878,958. The disclosure for this sale can be found here. Insiders sold a total of 38,937 shares of company stock valued at $1,197,313 in the last quarter. 12.70% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Arcus Biosciences
A number of hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in shares of Arcus Biosciences by 8.0% during the 1st quarter. Teacher Retirement System of Texas now owns 7,938 shares of the company’s stock worth $251,000 after purchasing an additional 590 shares during the period. HM Payson & Co. increased its holdings in Arcus Biosciences by 70.0% in the 3rd quarter. HM Payson & Co. now owns 1,700 shares of the company’s stock worth $44,000 after acquiring an additional 700 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Arcus Biosciences by 2.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,970 shares of the company’s stock worth $940,000 after acquiring an additional 710 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in Arcus Biosciences by 27.2% in the 2nd quarter. Virtus ETF Advisers LLC now owns 5,029 shares of the company’s stock worth $127,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Arcus Biosciences by 10.6% in the 2nd quarter. Arizona State Retirement System now owns 11,555 shares of the company’s stock worth $293,000 after acquiring an additional 1,111 shares during the last quarter. 72.61% of the stock is currently owned by institutional investors.
Arcus Biosciences Trading Up 9.0 %
The firm has a fifty day moving average of $28.52 and a two-hundred day moving average of $26.75. The company has a market cap of $1.63 billion, a PE ratio of 22.38 and a beta of 0.70.
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.