Arcus Biosciences (NYSE:RCUS) CFO Sells $198,965.69 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CFO Robert Goeltz II sold 7,763 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the transaction, the chief financial officer owned 84,161 shares in the company, valued at $2,157,046.43. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Stock Up 0.3%

Shares of Arcus Biosciences stock traded up $0.07 during midday trading on Tuesday, reaching $24.93. 691,074 shares of the company’s stock traded hands, compared to its average volume of 1,243,389. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -7.84 and a beta of 0.87. The company’s 50 day simple moving average is $23.14 and its 200 day simple moving average is $22.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. Arcus Biosciences, Inc. has a 52 week low of $7.91 and a 52 week high of $28.72.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The business had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.14) EPS. Equities analysts expect that Arcus Biosciences, Inc. will post -3.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCUS. Vanguard Group Inc. grew its position in Arcus Biosciences by 20.1% in the 4th quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after purchasing an additional 1,333,421 shares during the last quarter. Suvretta Capital Management LLC grew its position in Arcus Biosciences by 40.7% in the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after purchasing an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP grew its position in Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after purchasing an additional 3,918,220 shares during the last quarter. State Street Corp grew its position in Arcus Biosciences by 34.8% in the 4th quarter. State Street Corp now owns 4,576,969 shares of the company’s stock worth $109,069,000 after purchasing an additional 1,182,115 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Arcus Biosciences in the 4th quarter worth $80,731,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RCUS shares. Wells Fargo & Company set a $23.00 price target on shares of Arcus Biosciences and gave the company an “equal weight” rating in a report on Thursday, February 12th. The Goldman Sachs Group raised their price target on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wedbush raised their target price on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Finally, Leerink Partners set a $47.00 target price on shares of Arcus Biosciences in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.33.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.