Alexander Azoy Sells 1,900 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CAO Alexander Azoy sold 1,900 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $26.00, for a total transaction of $49,400.00. Following the sale, the chief accounting officer directly owned 27,363 shares in the company, valued at $711,438. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, September 29th, Alexander Azoy sold 2,831 shares of Arcus Biosciences stock. The stock was sold at an average price of $13.00, for a total value of $36,803.00.
• On Friday, September 5th, Alexander Azoy sold 1,579 shares of Arcus Biosciences stock. The stock was sold at an average price of $11.88, for a total value of $18,758.52.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $25.43 on Wednesday. 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, Inc. has a one year low of $6.50 and a one year high of $26.35. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -7.39 and a beta of 0.75. The stock has a 50 day moving average price of $18.48 and a 200-day moving average price of $12.84.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, beating the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm had revenue of $26.00 million during the quarter, compared to the consensus estimate of $19.89 million. During the same quarter in the previous year, the firm posted ($1.00) earnings per share. The company’s revenue was down 45.8% on a year-over-year basis. Equities analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on shares of Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Truist Financial restated a “buy” rating and set a $39.00 target price (up from $32.00) on shares of Arcus Biosciences in a report on Tuesday, October 7th. Finally, HC Wainwright raised their price objective on shares of Arcus Biosciences from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arcus Biosciences currently has an average rating of “Moderate Buy” and an average target price of $29.44.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds have recently modified their holdings of the business. Gilead Sciences Inc. lifted its stake in shares of Arcus Biosciences by 4.5% in the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock worth $246,684,000 after acquiring an additional 1,363,636 shares during the period. Vanguard Group Inc. boosted its position in shares of Arcus Biosciences by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after buying an additional 1,298,584 shares in the last quarter. Woodline Partners LP grew its position in shares of Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after purchasing an additional 1,603,367 shares during the last quarter. Geode Capital Management LLC increased its position 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 buying an additional 207,097 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Arcus Biosciences by 173.5% during the 3rd quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock worth $18,507,000 after purchasing an additional 863,162 shares in 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.