Arcus Biosciences’ (NYSE:RCUS) quiet period will end on Tuesday, April 24th. Arcus Biosciences had issued 8,000,000 shares in its initial public offering on March 15th. The total size of the offering was $120,000,000 based on an initial share price of $15.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research firms recently issued reports on RCUS. Leerink Swann began coverage on Arcus Biosciences in a report on Monday, April 9th. They issued an “outperform” rating and a $21.00 price objective on the stock. Citigroup began coverage on Arcus Biosciences in a report on Monday, April 9th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Goldman Sachs began coverage on Arcus Biosciences in a report on Monday, April 9th. They issued a “neutral” rating and a $18.00 price objective on the stock.
Shares of Arcus Biosciences stock opened at $16.30 on Monday. Arcus Biosciences has a 1-year low of $13.26 and a 1-year high of $22.10.
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Arcus Biosciences Company Profile
Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.
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