Arcus Biosciences (NYSE:RCUS) President Sells $437,135.72 in Stock

Arcus Biosciences, Inc. (NYSE:RCUSGet Free Report) President Juan Jaen sold 15,764 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $27.73, for a total transaction of $437,135.72. Following the completion of the transaction, the president directly owned 897,240 shares of the company’s stock, valued at approximately $24,880,465.20. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Arcus Biosciences Price Performance

Shares of RCUS traded up $0.56 on Wednesday, reaching $28.74. The stock had a trading volume of 1,784,969 shares, compared to its average volume of 1,240,586. Arcus Biosciences, Inc. has a twelve month low of $7.91 and a twelve month high of $29.85. The firm has a market capitalization of $3.61 billion, a PE ratio of -9.04 and a beta of 0.85. The firm has a 50-day moving average of $24.40 and a 200 day moving average of $22.90. 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:RCUSGet Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $17.00 million for the quarter, compared to analysts’ expectations of $29.48 million. During the same quarter in the previous year, the firm posted ($1.14) earnings per share. The firm’s revenue for the quarter was down 39.3% compared to the same quarter last year. Sell-side analysts expect that Arcus Biosciences, Inc. will post -3.66 EPS for the current year.

Institutional Trading of Arcus Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of RCUS. California State Teachers Retirement System lifted its stake 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 worth $2,285,000 after purchasing an additional 15,110 shares during the period. Royal Bank of Canada grew its position in shares of Arcus Biosciences by 14.6% in the first quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after purchasing an additional 607 shares during the period. Quantinno Capital Management LP grew its position in shares of Arcus Biosciences by 8.5% in the first quarter. Quantinno Capital Management LP now owns 17,295 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the period. SummitTX Capital L.P. increased its stake in Arcus Biosciences by 17.4% in the first quarter. SummitTX Capital L.P. now owns 34,219 shares of the company’s stock valued at $739,000 after purchasing an additional 5,076 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Arcus Biosciences in the first quarter valued at $294,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Leerink Partners set a $47.00 target price on Arcus Biosciences in a report on Monday, April 20th. Morgan Stanley raised their price target on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Citigroup upped their price objective on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group increased their price objective on Arcus Biosciences from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average target price of $35.10.

Read Our Latest Stock Analysis on Arcus Biosciences

Arcus Biosciences Company Profile

(Get Free Report)

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.

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