Arcus Biosciences (NYSE:RCUS) CAO Sells $66,022.74 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CAO Alexander Azoy sold 2,562 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,020,002.37. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Price Performance

Shares of NYSE RCUS opened at $23.88 on Thursday. Arcus Biosciences, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $28.72. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -7.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The firm’s 50-day simple moving average is $23.71 and its 200 day simple moving average is $22.79.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business had revenue of $17.00 million during the quarter, compared to the consensus estimate of $29.49 million. During the same period in the previous year, the business posted ($1.14) EPS. Arcus Biosciences’s revenue was down 39.3% compared to the same quarter last year. As a group, research analysts anticipate that Arcus Biosciences, Inc. will post -3.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

Several hedge funds have recently modified their holdings of RCUS. AQR Capital Management LLC lifted its position in shares of Arcus Biosciences by 253.9% during the 1st quarter. AQR Capital Management LLC now owns 90,954 shares of the company’s stock worth $714,000 after buying an additional 65,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arcus Biosciences by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,572 shares of the company’s stock worth $297,000 after buying an additional 3,565 shares in the last quarter. Millennium Management LLC lifted its position in shares of Arcus Biosciences by 29.2% during the 1st quarter. Millennium Management LLC now owns 1,194,622 shares of the company’s stock worth $9,378,000 after buying an additional 270,253 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Arcus Biosciences during the 1st quarter worth approximately $67,000. Institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company set a $23.00 price target on shares of Arcus Biosciences and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Citigroup raised their price target on shares of Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Wall Street Zen cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.89.

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.