Insider Selling: Arcus Biosciences (NYSE:RCUS) CFO Sells $198,965.69 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CFO Robert Goeltz II sold 7,763 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $25.63, for a total transaction of $198,965.69. Following the completion of the sale, the chief financial officer directly owned 84,161 shares in the company, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Trading Down 0.1%

NYSE:RCUS opened at $24.99 on Friday. The firm’s fifty day moving average is $23.31 and its 200-day moving average is $22.37. Arcus Biosciences, Inc. has a 52 week low of $7.91 and a 52 week high of $28.72. The firm has a market cap of $3.14 billion, a P/E ratio of -7.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate 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 business had revenue of $17.00 million for the quarter, compared to analyst estimates of $29.49 million. During the same period in the prior year, the business earned ($1.14) EPS. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. Equities analysts expect that Arcus Biosciences, Inc. will post -3.53 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday. Wall Street Zen cut Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wells Fargo & Company set a $23.00 target price on Arcus Biosciences and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Finally, Wedbush raised their target price on Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given 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 target price of $33.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Arcus Biosciences by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock worth $189,755,000 after acquiring an additional 1,333,421 shares in the last quarter. Suvretta Capital Management LLC boosted its holdings in Arcus Biosciences by 40.7% in the fourth quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company’s stock worth $123,650,000 after acquiring an additional 1,500,000 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Arcus Biosciences by 309.4% in the fourth quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company’s stock worth $123,547,000 after acquiring an additional 3,918,220 shares in the last quarter. State Street Corp boosted its holdings in Arcus Biosciences by 34.8% in the fourth quarter. State Street Corp now owns 4,576,969 shares of the company’s stock worth $109,069,000 after acquiring an additional 1,182,115 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Arcus Biosciences in the fourth quarter worth approximately $80,731,000. Institutional investors 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.