Insider Selling: Arcus Biosciences (NYSE:RCUS) CEO Sells 28,947 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CEO Terry Rosen sold 28,947 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $633,360.36. Following the completion of the sale, the chief executive officer directly owned 2,220,553 shares in the company, valued at $48,585,699.64. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Arcus Biosciences Price Performance

Shares of NYSE RCUS traded down $0.26 during midday trading on Thursday, reaching $22.02. The company’s stock had a trading volume of 1,175,874 shares, compared to its average volume of 1,200,446. Arcus Biosciences, Inc. has a one year low of $6.50 and a one year high of $26.40. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -6.40 and a beta of 0.75. The company has a 50 day moving average price of $20.82 and a 200 day moving average price of $13.98. 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 (NYSE:RCUS) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $26.00 million during the quarter, compared to analyst estimates of $19.89 million. During the same quarter last year, the company posted ($1.00) EPS. Arcus Biosciences’s revenue for the quarter was down 45.8% on a year-over-year basis. On average, equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Institutional Trading of Arcus Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in RCUS. Woodline Partners LP boosted 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 worth $40,249,000 after acquiring an additional 1,603,367 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Arcus Biosciences by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after purchasing an additional 1,298,584 shares during the last quarter. RA Capital Management L.P. bought a new stake in Arcus Biosciences during the first quarter worth approximately $8,920,000. Wellington Management Group LLP acquired a new position in Arcus Biosciences during the first quarter valued at approximately $8,500,000. Finally, Bank of America Corp DE grew its holdings in 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 last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RCUS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. HC Wainwright upped their price target on shares of Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Truist Financial set a $30.00 price objective on Arcus Biosciences in a report on Friday, December 12th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and a consensus price target of $28.89.

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.