Arcus Biosciences (NYSE:RCUS) President Sells $1,457,485.10 in Stock

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

Arcus Biosciences Stock Performance

Shares of NYSE RCUS traded down $0.80 during midday trading on Monday, hitting $28.12. The company’s stock had a trading volume of 934,888 shares, compared to its average volume of 1,264,033. The stock has a fifty day moving average price of $25.93 and a 200 day moving average price of $23.49. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -8.84 and a beta of 0.80. Arcus Biosciences, Inc. has a one year low of $8.84 and a one year high of $31.74. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The company had revenue of $17.00 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.14) earnings per share. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RCUS has been the subject of several recent analyst reports. Lifesci Capital initiated coverage on shares of Arcus Biosciences in a research note on Thursday, June 4th. They set an “outperform” rating and a $46.00 price objective for the company. Wedbush increased their target price 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. The Goldman Sachs Group lifted 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Monday, April 20th. Finally, Leerink Partners set a $47.00 target price on Arcus Biosciences in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after acquiring an additional 881 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in Arcus Biosciences in the 4th quarter worth approximately $39,000. KBC Group NV bought a new stake in Arcus Biosciences in the first quarter valued at approximately $50,000. Strs Ohio bought a new stake in Arcus Biosciences in the first quarter valued at approximately $67,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Arcus Biosciences by 184.2% during the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock valued at $69,000 after purchasing an additional 5,476 shares during the period. Institutional investors 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.