Insider Selling: Arcus Biosciences (NYSE:RCUS) President Sells 6,431 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 6,431 shares of Arcus Biosciences stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $29.66, for a total value of $190,743.46. Following the sale, the president directly owned 890,809 shares of the company’s stock, valued at $26,421,394.94. This represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Arcus Biosciences Stock Performance

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

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.Arcus Biosciences’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.14) EPS. Equities research analysts expect that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on RCUS. The Goldman Sachs Group boosted their price target on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley upped their target price on Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wedbush increased their target price on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 2nd. Finally, Truist Financial assumed coverage on Arcus Biosciences in a research note on Monday, May 18th. They issued a “buy” rating and a $35.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.10.

Institutional Investors Weigh In On Arcus Biosciences

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Arcus Biosciences by 309.4% in the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after purchasing an additional 3,918,220 shares during the last quarter. Marshall Wace LLP acquired a new stake in Arcus Biosciences in the fourth quarter valued at about $80,731,000. Suvretta Capital Management LLC grew its position in Arcus Biosciences by 40.7% in the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after acquiring an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank bought a new position in Arcus Biosciences in the fourth quarter valued at about $35,380,000. Finally, Vanguard Group Inc. raised its stake in Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after acquiring an additional 1,333,421 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.