Arcus Biosciences (NYSE:RCUS) President Sells $1,457,485.10 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 48,502 shares of Arcus Biosciences stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.05, for a total value of $1,457,485.10. Following the sale, the president directly owned 842,307 shares in the company, valued at approximately $25,311,325.35. This trade represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $28.06 on Thursday. The business’s 50 day moving average is $26.07 and its 200-day moving average is $23.60. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.53 billion, a PE ratio of -8.82 and a beta of 0.80. Arcus Biosciences, Inc. has a 1-year low of $8.84 and a 1-year high of $31.74.

Arcus Biosciences (NYSE:RCUS) last posted 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). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.48 million. During the same quarter in the prior year, the firm earned ($1.14) EPS. The firm’s quarterly revenue was down 39.3% on a year-over-year basis. Sell-side analysts predict that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. Hantz Financial Services Inc. increased its position in Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Arcus Biosciences during the 4th quarter worth approximately $39,000. KBC Group NV bought a new stake in shares of Arcus Biosciences during the first quarter worth approximately $50,000. Strs Ohio acquired a new position in Arcus Biosciences in the first quarter valued at approximately $67,000. Finally, Tower Research Capital LLC TRC boosted its stake in Arcus Biosciences by 184.2% in the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock valued at $69,000 after acquiring an additional 5,476 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on RCUS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Wedbush raised their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Wall Street Zen cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research report on Monday, April 20th. Finally, The Goldman Sachs Group lifted their price objective on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Arcus Biosciences presently has an average rating of “Moderate Buy” and an average target price of $35.10.

Arcus Biosciences Company Profile

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.