Insider Selling: Arcus Biosciences (NYSE:RCUS) CAO Sells 2,113 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CAO Alexander Azoy sold 2,113 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $22.16, for a total transaction of $46,824.08. Following the sale, the chief accounting officer directly owned 22,874 shares of the company’s stock, valued at approximately $506,887.84. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alexander Azoy also recently made the following trade(s):

• On Thursday, December 18th, Alexander Azoy sold 4,343 shares of Arcus Biosciences stock. The stock was sold at an average price of $22.25, for a total transaction of $96,631.75.
• On Tuesday, December 16th, Alexander Azoy sold 2,376 shares of Arcus Biosciences stock. The stock was sold at an average price of $21.88, for a total transaction of $51,986.88.
• On Wednesday, November 26th, Alexander Azoy sold 1,900 shares of Arcus Biosciences stock. The shares were sold at an average price of $26.00, for a total transaction of $49,400.00.
• On Monday, September 29th, Alexander Azoy sold 2,831 shares of Arcus Biosciences stock. The stock was sold at an average price of $13.00, for a total transaction of $36,803.00.

Arcus Biosciences Price Performance

Shares of RCUS traded down $0.26 during midday trading on Thursday, hitting $22.02. 1,175,874 shares of the company traded hands, compared to its average volume of 1,200,446. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -6.40 and a beta of 0.75. The firm has a 50 day moving average of $20.82 and a 200-day moving average of $13.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $26.40.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RCUS shares. HC Wainwright increased their target price on Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group increased their price objective on shares of Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Bank of America upped their target price on shares of Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. Finally, Wedbush set a $35.00 price target on Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $28.89.

Institutional Investors Weigh In On Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock valued at $52,499,000 after acquiring an additional 1,298,584 shares during the period. Woodline Partners LP lifted its position in shares of Arcus Biosciences by 45.5% during the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after purchasing an additional 1,603,367 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 207,097 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Arcus Biosciences by 173.5% during the third quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after purchasing an additional 863,162 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Arcus Biosciences by 35.3% during the third quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock valued at $17,222,000 after purchasing an additional 330,268 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Company Profile

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.