Insider Selling: Arcus Biosciences (NYSE:RCUS) President Sells $574,317.54 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 20,067 shares of Arcus Biosciences stock in a transaction on Friday, July 10th. The shares were sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the transaction, the president owned 822,240 shares in the company, valued at approximately $23,532,508.80. The trade was a 2.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Price Performance

Shares of RCUS stock opened at $28.06 on Thursday. 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 twelve month low of $8.84 and a twelve month high of $31.74. The company has a market cap of $3.53 billion, a P/E ratio of -8.82 and a beta of 0.80. The business has a fifty day simple moving average of $26.07 and a 200 day simple moving average of $23.60.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings data 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 net margin of 156.36% and a negative return on equity of 68.97%. The business had revenue of $17.00 million during the quarter, compared to analyst estimates of $29.48 million. During the same period last year, the business earned ($1.14) earnings per share. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. On average, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Monday, April 20th. Truist Financial initiated coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley raised their target price on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a report on Monday, April 20th. Finally, Wedbush increased their price target on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently added to or reduced their stakes in RCUS. Hantz Financial Services Inc. increased its position in Arcus Biosciences by 121.9% in 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. acquired a new position in shares of Arcus Biosciences during the fourth quarter worth $39,000. KBC Group NV acquired a new position in shares of Arcus Biosciences during the first quarter worth $50,000. Strs Ohio bought a new stake in shares of Arcus Biosciences in the first quarter worth $67,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Arcus Biosciences by 184.2% in the second quarter. Tower Research Capital LLC TRC now owns 8,449 shares of the company’s stock worth $69,000 after purchasing an additional 5,476 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.