Juan Jaen Sells 15,764 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 15,764 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $27.73, for a total transaction of $437,135.72. Following the transaction, the president owned 897,240 shares in the company, valued at approximately $24,880,465.20. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arcus Biosciences Trading Up 2.0%

Shares of 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. Arcus Biosciences, Inc. has a 1-year low of $7.91 and a 1-year high of $29.85. The business’s 50-day simple moving average is $24.40 and its 200-day simple moving average is $22.90. The stock has a market cap of $3.61 billion, a PE ratio of -9.04 and a beta of 0.85. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19.

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 company had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $29.48 million. During the same period in the prior year, the business earned ($1.14) EPS. The business’s revenue for the quarter was down 39.3% on a year-over-year basis. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have 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 report on Thursday, May 7th. Citigroup lifted their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Lifesci Capital assumed coverage on Arcus Biosciences in a report on Thursday, June 4th. They set an “outperform” rating and a $46.00 target price for the company. Wedbush raised their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 2nd. Finally, Truist Financial assumed coverage on shares of Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock valued at $123,547,000 after buying an additional 3,918,220 shares in the last quarter. Marshall Wace LLP acquired a new stake in Arcus Biosciences in the fourth quarter valued at approximately $80,731,000. Suvretta Capital Management LLC raised its stake in shares of Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock valued at $123,650,000 after purchasing an additional 1,500,000 shares during the period. Toronto Dominion Bank purchased a new stake in shares of Arcus Biosciences during the fourth quarter valued at approximately $35,380,000. Finally, Vanguard Group Inc. lifted its position in shares of 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 purchasing 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.