Arcus Biosciences (NYSE:RCUS) CAO Sells $84,810.00 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CAO Alexander Azoy sold 2,827 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $30.00, for a total value of $84,810.00. Following the completion of the transaction, the chief accounting officer directly owned 39,581 shares in the company, valued at approximately $1,187,430. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alexander Azoy also recently made the following trade(s):

• On Monday, June 1st, Alexander Azoy sold 2,562 shares of Arcus Biosciences stock. The stock was sold at an average price of $25.77, for a total value of $66,022.74.

Arcus Biosciences Trading Down 2.1%

Shares of Arcus Biosciences stock opened at $30.91 on Thursday. The firm has a 50-day moving average of $28.91 and a 200-day moving average of $24.99. The stock has a market cap of $3.94 billion, a PE ratio of -7.93 and a beta of 0.80. Arcus Biosciences, Inc. has a 52-week low of $10.25 and a 52-week high of $31.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.82 and a current ratio of 3.82.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.17. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The business had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences’s revenue for the quarter was down 74.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Arcus Biosciences during the 2nd quarter worth $506,113,000. Wellington Management Group LLP grew its position 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 valued at $123,547,000 after acquiring an additional 3,918,220 shares during the last quarter. Marshall Wace LLP acquired a new position in Arcus Biosciences during the fourth quarter worth about $80,731,000. California State Teachers Retirement System lifted its holdings in shares of Arcus Biosciences by 2,739.2% in the second quarter. California State Teachers Retirement System now owns 3,003,150 shares of the company’s stock worth $97,410,000 after acquiring an additional 2,897,374 shares during the last quarter. Finally, Suvretta Capital Management LLC lifted its holdings in shares of 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 during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RCUS has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price target on shares of Arcus Biosciences in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Friday, July 17th. Truist Financial started coverage on Arcus Biosciences in a research report on Monday, May 18th. They set a “buy” rating and a $35.00 target price for the company. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company raised their price target on Arcus Biosciences from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.80.

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.