Arcus Biosciences (NYSE:RCUS) President Sells $249,649.08 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 9,236 shares of Arcus Biosciences stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $27.03, for a total transaction of $249,649.08. Following the completion of the transaction, the president directly owned 913,004 shares of the company’s stock, valued at $24,678,498.12. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Arcus Biosciences Trading Up 2.3%

RCUS stock opened at $30.93 on Friday. The company’s 50-day simple moving average is $24.82 and its 200-day simple moving average is $23.01. 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, Inc. has a 52-week low of $7.91 and a 52-week 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.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results 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 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%. Arcus Biosciences’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.14) EPS. As a group, equities analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Institutional Trading of Arcus Biosciences

Several large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after purchasing an additional 881 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Arcus Biosciences in the fourth quarter valued at about $39,000. KBC Group NV purchased a new position in shares of Arcus Biosciences in the first quarter worth about $50,000. GAMMA Investing LLC boosted its position in Arcus Biosciences by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after acquiring an additional 482 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after acquiring an additional 607 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCUS. Morgan Stanley increased 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. Lifesci Capital began coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target for the company. Wedbush upped their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 2nd. Truist Financial started coverage on shares of Arcus Biosciences in a report on Monday, May 18th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Citigroup lifted their target price on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Eight equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.10.

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.