Insider Selling: Arcus Biosciences (NYSE:RCUS) CFO Sells 6,702 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CFO Robert Goeltz II sold 6,702 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $146,639.76. Following the completion of the sale, the chief financial officer directly owned 80,436 shares in the company, valued at $1,759,939.68. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arcus Biosciences Trading Down 1.2%

Shares of Arcus Biosciences stock traded down $0.26 during midday trading on Thursday, reaching $22.02. 1,175,874 shares of the company’s stock traded hands, compared to its average volume of 1,200,446. The stock has a 50 day moving average of $20.82 and a 200-day moving average of $13.98. Arcus Biosciences, Inc. has a 12 month low of $6.50 and a 12 month high of $26.40. The company has a market cap of $2.38 billion, a PE ratio of -6.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65.

Arcus Biosciences (NYSE:RCUS) last announced its 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. The firm had revenue of $26.00 million during the quarter, compared to analyst estimates of $19.89 million. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The business’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.00) EPS. As a group, equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock valued at $52,499,000 after purchasing an additional 1,298,584 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arcus Biosciences by 23.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 714,002 shares of the company’s stock worth $5,605,000 after buying an additional 134,379 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Arcus Biosciences by 10.9% in the first quarter. Maryland State Retirement & Pension System now owns 20,202 shares of the company’s stock worth $159,000 after buying an additional 1,986 shares during the last quarter. Swiss National Bank grew its position in Arcus Biosciences by 35.9% during the first quarter. Swiss National Bank now owns 133,596 shares of the company’s stock valued at $1,049,000 after buying an additional 35,300 shares during the period. Finally, Invesco Ltd. grew its position in Arcus Biosciences by 24.5% during the first quarter. Invesco Ltd. now owns 254,024 shares of the company’s stock valued at $1,994,000 after buying an additional 50,037 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RCUS shares. Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. The Goldman Sachs Group increased their price objective on shares of Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. HC Wainwright lifted their target price on shares of Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Monday. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.89.

Arcus Biosciences Company Profile

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.