Insider Selling: Arcus Biosciences (NYSE:RCUS) General Counsel Sells 7,658 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) General Counsel Carolyn Tang sold 7,658 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total transaction of $167,557.04. Following the transaction, the general counsel owned 131,544 shares in the company, valued at approximately $2,878,182.72. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arcus Biosciences Stock Performance

NYSE:RCUS traded down $0.26 during mid-day trading on Thursday, reaching $22.02. The stock had a trading volume of 1,175,874 shares, compared to its average volume of 1,200,446. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $26.40. The business has a 50 day simple moving average of $20.82 and a 200 day simple moving average of $13.98. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.40 and a beta of 0.75. 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 (NYSE:RCUS) last issued its earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.06. The business had revenue of $26.00 million during 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 company’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.00) EPS. On average, analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RCUS shares. Truist Financial set a $30.00 price target on shares of Arcus Biosciences in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. HC Wainwright boosted their target price on Arcus Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Wedbush set a $35.00 price target on Arcus Biosciences and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.89.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of RCUS. Goldman Sachs Group Inc. grew its holdings in Arcus Biosciences by 106.2% in the 1st 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 during the period. Geode Capital Management LLC raised its stake 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 purchasing an additional 207,097 shares during the period. Rhumbline Advisers boosted its holdings in shares of 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 during the last quarter. Tema Etfs LLC grew 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 buying an additional 44,411 shares during the period. Finally, Woodline Partners LP increased its holdings 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 buying an additional 1,603,367 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.