Juan Jaen Sells 48,502 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 48,502 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $30.05, for a total value of $1,457,485.10. Following the completion of the transaction, the president owned 842,307 shares of the company’s stock, valued at $25,311,325.35. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Price Performance

Shares of NYSE:RCUS opened at $28.43 on Wednesday. The company has a market cap of $3.58 billion, a P/E ratio of -8.94 and a beta of 0.80. The business has a fifty day simple moving average of $26.03 and a 200-day simple moving average of $23.56. Arcus Biosciences, Inc. has a 52 week low of $8.84 and a 52 week high of $31.74. 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 released its 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). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $29.48 million. During the same quarter last year, the company posted ($1.14) earnings per share. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current year.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Monday, April 20th. Leerink Partners set a $47.00 price objective on shares of Arcus Biosciences in a research note on Monday, April 20th. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wedbush lifted their target price on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 2nd. Finally, Lifesci Capital assumed coverage on Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 price target for the company. Eight investment 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 company has an average rating of “Moderate Buy” and a consensus price target of $35.10.

Institutional Trading of Arcus Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Tema ETFs LLC increased its holdings in Arcus Biosciences by 10.5% in the 2nd quarter. Tema ETFs LLC now owns 83,140 shares of the company’s stock valued at $2,563,000 after purchasing an additional 7,927 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Arcus Biosciences in the second quarter worth about $1,202,000. GAMMA Investing LLC grew its stake in shares of Arcus Biosciences by 10.0% in the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $122,000 after buying an additional 359 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Arcus Biosciences by 16.7% during the 1st quarter. California State Teachers Retirement System now owns 105,776 shares of the company’s stock valued at $2,285,000 after buying an additional 15,110 shares during the period. Finally, Royal Bank of Canada lifted its position in Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after acquiring an additional 607 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

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.