Arcus Biosciences (NYSE:RCUS) Shares Gap Down on Insider Selling

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $23.20, but opened at $22.14. Arcus Biosciences shares last traded at $21.18, with a volume of 292,661 shares traded.

Specifically, President Juan C. Jaen sold 31,823 shares of Arcus Biosciences stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.41, for a total value of $681,330.43. Following the transaction, the president owned 922,240 shares in the company, valued at $19,745,158.40. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert C. Goeltz II sold 6,552 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $23.38, for a total value of $153,185.76. Following the completion of the transaction, the chief financial officer directly owned 67,924 shares in the company, valued at $1,588,063.12. This trade represents a 8.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

Several brokerages have commented on RCUS. Wedbush set a $35.00 price target on Arcus Biosciences and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Wells Fargo & Company boosted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. HC Wainwright raised their price target on shares of Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

Arcus Biosciences Stock Performance

The stock’s fifty day moving average is $22.55 and its two-hundred day moving average is $15.41. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.17 and a beta of 0.77. 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 issued its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.06. The firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.00) EPS. Analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock worth $37,000 after purchasing an additional 1,021 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after buying an additional 2,845 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Arcus Biosciences in the third quarter worth $69,000. CWM LLC increased its stake in shares of Arcus Biosciences by 233.6% in the second quarter. CWM LLC now owns 5,441 shares of the company’s stock worth $44,000 after buying an additional 3,810 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after acquiring an additional 1,796 shares in the last quarter. Hedge funds and other institutional investors 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.