Insider Selling: Arcus Biosciences (NYSE:RCUS) President Sells 9,236 Shares

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 9,236 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $27.03, for a total value of $249,649.08. Following the sale, the president owned 913,004 shares in the company, valued at approximately $24,678,498.12. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arcus Biosciences Stock Performance

Shares of NYSE RCUS traded up $0.56 during mid-day trading on Wednesday, hitting $28.74. The company had a trading volume of 1,784,969 shares, compared to its average volume of 1,240,586. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences, Inc. has a 1 year low of $7.91 and a 1 year high of $29.85. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -9.04 and a beta of 0.85. The stock’s 50-day moving average price is $24.40 and its 200-day moving average price is $22.90.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The company had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.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 earned ($1.14) EPS. On average, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Arcus Biosciences in a research report on Monday, March 2nd. Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. The Goldman Sachs Group lifted their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Lifesci Capital started coverage on shares of Arcus Biosciences in a research report on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Institutional Trading of Arcus Biosciences

A number of hedge funds have recently bought and sold shares of RCUS. Hantz Financial Services Inc. boosted its stake 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 buying an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Arcus Biosciences in the 4th quarter worth approximately $39,000. KBC Group NV bought a new stake in shares of Arcus Biosciences in the 1st quarter worth approximately $50,000. GAMMA Investing LLC boosted its stake in shares of Arcus Biosciences by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock valued at $77,000 after purchasing an additional 482 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after purchasing an additional 607 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

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.