HC Wainwright Cuts Arcus Biosciences (NYSE:RCUS) Price Target to $18.00

Arcus Biosciences (NYSE:RCUS) had its price target cut by HC Wainwright from $20.00 to $18.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock. HC Wainwright also issued estimates for Arcus Biosciences’ Q1 2025 earnings at ($1.30) EPS, Q2 2025 earnings at ($1.10) EPS, Q3 2025 earnings at ($1.15) EPS, Q4 2025 earnings at ($1.15) EPS and FY2029 earnings at ($1.80) EPS.

Several other equities research analysts also recently commented on the stock. Barclays upped 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. Wedbush reissued an “outperform” rating and issued a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Arcus Biosciences Price Performance

NYSE RCUS opened at $10.76 on Tuesday. The company has a market cap of $984.21 million, a PE ratio of -3.41 and a beta of 0.84. Arcus Biosciences has a 52 week low of $10.63 and a 52 week high of $20.31. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $14.02 and its two-hundred day simple moving average is $15.56.

Insider Buying and Selling

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’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 transaction, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCUS. Gilead Sciences Inc. bought a new position in shares of Arcus Biosciences in the fourth quarter worth approximately $447,610,000. Boxer Capital Management LLC bought a new position in shares of Arcus Biosciences in the fourth quarter worth approximately $23,857,000. Braidwell LP bought a new position in shares of Arcus Biosciences in the fourth quarter worth approximately $11,943,000. Millennium Management LLC increased its position in shares of Arcus Biosciences by 277.1% in the fourth quarter. Millennium Management LLC now owns 924,369 shares of the company’s stock worth $13,764,000 after purchasing an additional 679,267 shares during the last quarter. Finally, Parkman Healthcare Partners LLC increased its position in shares of Arcus Biosciences by 146.9% in the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after purchasing an additional 610,219 shares during the last quarter. 92.89% of the stock is currently owned by 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.