Arcus Biosciences (NYSE:RCUS) President Sells 9,983 Shares

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 9,983 shares of Arcus Biosciences stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total transaction of $221,223.28. Following the completion of the transaction, the president directly owned 346,012 shares of the company’s stock, valued at $7,667,625.92. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Arcus Biosciences Stock Performance

NYSE RCUS traded down $0.26 during trading hours on Thursday, hitting $22.02. 1,175,874 shares of the company’s stock traded hands, compared to its average volume of 1,200,446. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $26.40. The firm has a market capitalization of $2.38 billion, a P/E ratio of -6.40 and a beta of 0.75. The business’s fifty day moving average price is $20.82 and its two-hundred day moving average price is $13.98.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The firm had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $19.89 million. During the same period in the previous year, the firm posted ($1.00) earnings per share. The business’s revenue was down 45.8% compared to the same quarter last year. Equities research analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RCUS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a research report on Friday, December 12th. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. Wedbush set a $35.00 target price on Arcus Biosciences and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Sunday. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.89.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors have recently bought and sold shares of RCUS. Goldman Sachs Group Inc. boosted its stake in shares of Arcus Biosciences by 106.2% in the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after buying an additional 470,755 shares in the last quarter. Geode Capital Management LLC raised its position in Arcus Biosciences by 14.9% during the second quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock worth $12,995,000 after acquiring an additional 207,097 shares during the last quarter. Rhumbline Advisers lifted its holdings in Arcus Biosciences by 14.8% in the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock valued at $1,436,000 after purchasing an additional 23,645 shares in the last quarter. Tema Etfs LLC increased its stake in shares of Arcus Biosciences by 291.2% during the 2nd quarter. Tema Etfs LLC now owns 59,662 shares of the company’s stock valued at $486,000 after acquiring an additional 44,411 shares during the last quarter. Finally, Woodline Partners LP grew its stake in shares of Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after buying an additional 1,603,367 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.