Insider Selling: Arcus Biosciences (NYSE:RCUS) President Sells $190,743.46 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 6,431 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $29.66, for a total value of $190,743.46. Following the transaction, the president owned 890,809 shares in the company, valued at approximately $26,421,394.94. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arcus Biosciences Price Performance

RCUS stock opened at $30.93 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. Arcus Biosciences, Inc. has a 1 year low of $7.91 and a 1 year high of $31.44. The firm has a market cap of $3.89 billion, a P/E ratio of -9.73 and a beta of 0.85. The stock has a 50-day simple moving average of $24.82 and a 200-day simple moving average of $23.01.

Arcus Biosciences (NYSE:RCUS) last announced 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 for the quarter, compared to analysts’ expectations of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.14) earnings per share. On average, equities analysts predict that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on RCUS shares. The Goldman Sachs Group boosted their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wedbush lifted their price target on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. Leerink Partners set a $47.00 price objective on shares of Arcus Biosciences in a report on Monday, April 20th. Truist Financial began coverage on shares of Arcus Biosciences in a research report on Monday, May 18th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Eight 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RCUS. Wellington Management Group LLP grew its holdings in Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after acquiring an additional 3,918,220 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Arcus Biosciences in the 4th quarter valued at about $80,731,000. Suvretta Capital Management LLC raised its stake in shares of Arcus Biosciences by 40.7% in the 4th 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 in the last quarter. Toronto Dominion Bank bought a new position in shares of Arcus Biosciences during the fourth quarter worth about $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 during the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.