Alexander Azoy Sells 2,562 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CAO Alexander Azoy sold 2,562 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the transaction, the chief accounting officer owned 39,581 shares of the company’s stock, valued at approximately $1,020,002.37. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Stock Up 1.6%

Shares of NYSE:RCUS traded up $0.40 during trading on Monday, hitting $25.74. The company’s stock had a trading volume of 1,450,131 shares, compared to its average volume of 902,746. The business has a 50 day moving average price of $23.61 and a two-hundred day moving average price of $22.73. The company has a market capitalization of $3.24 billion, a PE ratio of -8.10 and a beta of 0.85. 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 fifty-two week low of $7.91 and a fifty-two week high of $28.72.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly 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 business had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.49 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The business’s revenue was down 39.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.14) EPS. As a group, research analysts expect that Arcus Biosciences, Inc. will post -3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Decheng Capital LLC raised its holdings in shares of Arcus Biosciences by 242.3% in the third quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after buying an additional 387,609 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Arcus Biosciences in the third quarter valued at about $1,254,000. Candriam S.C.A. purchased a new stake in shares of Arcus Biosciences in the third quarter valued at about $5,147,000. Vanguard Group Inc. raised its holdings in shares of Arcus Biosciences by 1.1% in the third quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock valued at $90,161,000 after buying an additional 73,210 shares during the last quarter. Finally, Aberdeen Group plc purchased a new stake in shares of Arcus Biosciences in the third quarter valued at about $4,418,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Truist Financial assumed coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Finally, Morgan Stanley boosted their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Seven 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.89.

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.