Carolyn Tang Sells 7,658 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) General Counsel Carolyn Tang sold 7,658 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $167,557.04. Following the transaction, the general counsel owned 131,544 shares of the company’s stock, valued at approximately $2,878,182.72. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arcus Biosciences Trading Down 1.2%

Shares of RCUS stock traded down $0.26 on Thursday, hitting $22.02. The stock had a trading volume of 1,175,874 shares, compared to its average volume of 1,200,446. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The firm has a market capitalization of $2.38 billion, a P/E ratio of -6.40 and a beta of 0.75. The company’s 50 day moving average price is $20.82 and its 200-day moving average price is $13.98. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $26.40.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The business had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $19.89 million. During the same quarter in the prior year, the company earned ($1.00) earnings per share. The business’s quarterly revenue was down 45.8% on a year-over-year basis. Analysts anticipate that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors have recently modified their holdings of the business. Amalgamated Bank raised its holdings in shares of Arcus Biosciences by 3.9% in the third quarter. Amalgamated Bank now owns 19,533 shares of the company’s stock valued at $266,000 after buying an additional 736 shares during the last quarter. Creative Planning increased its holdings in shares of Arcus Biosciences by 2.7% in the third quarter. Creative Planning now owns 29,629 shares of the company’s stock valued at $403,000 after purchasing an additional 771 shares during the period. GAMMA Investing LLC increased its holdings in shares of Arcus Biosciences by 59.1% in the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after purchasing an additional 1,021 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Arcus Biosciences by 8.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,398 shares of the company’s stock worth $142,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Arcus Biosciences by 1.6% during the second quarter. Parallel Advisors LLC now owns 88,007 shares of the company’s stock worth $716,000 after purchasing an additional 1,422 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Arcus Biosciences in a research report on Friday, December 12th. Wall Street Zen upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday. The Goldman Sachs Group boosted their target price on shares of Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. HC Wainwright raised their price target on Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Wedbush set a $35.00 price objective on Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.89.

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.