Juan Jaen Sells 6,431 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 6,431 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $29.66, for a total transaction of $190,743.46. Following the transaction, the president owned 890,809 shares of the company’s stock, valued at approximately $26,421,394.94. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Arcus Biosciences Price Performance

NYSE:RCUS traded up $0.56 on Wednesday, hitting $28.74. The company had a trading volume of 1,784,969 shares, compared to its average volume of 1,240,586. Arcus Biosciences, Inc. has a 52 week low of $7.91 and a 52 week high of $29.85. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -9.04 and a beta of 0.85. The firm has a 50 day moving average of $24.40 and a two-hundred day moving average of $22.90.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share 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 company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.48 million. During the same period in the previous year, the firm posted ($1.14) EPS. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. On average, research analysts anticipate that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Leerink Partners set a $47.00 target price on Arcus Biosciences in a research report on Monday, April 20th. Wedbush upped their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Monday, April 20th. The Goldman Sachs Group lifted their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley upped their price target on shares of Arcus Biosciences from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.10.

Institutional Trading of Arcus Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Wellington Management Group LLP raised its holdings in Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after purchasing an additional 3,918,220 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Arcus Biosciences during the fourth quarter worth $80,731,000. Suvretta Capital Management LLC increased its position in shares of Arcus Biosciences by 40.7% during the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after buying an additional 1,500,000 shares during the period. Toronto Dominion Bank bought a new position in Arcus Biosciences during the fourth quarter worth $35,380,000. Finally, Vanguard Group Inc. raised its stake in Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after buying an additional 1,333,421 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Arcus Biosciences

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.