Arcus Biosciences (NYSE:RCUS) CFO Robert Goeltz II Sells 6,702 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CFO Robert Goeltz II sold 6,702 shares of Arcus Biosciences stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $146,639.76. Following the completion of the sale, the chief financial officer directly owned 80,436 shares in the company, valued at approximately $1,759,939.68. This represents a 7.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arcus Biosciences Trading Down 1.2%

NYSE:RCUS opened at $22.02 on Friday. The company has a market cap of $2.38 billion, a P/E ratio of -6.40 and a beta of 0.75. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $26.40. The business has a 50 day moving average price of $20.96 and a two-hundred day moving average price of $14.04. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same quarter in the previous year, the firm posted ($1.00) earnings per share. The firm’s revenue for the quarter was down 45.8% on a year-over-year basis. As a group, analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RCUS has been the subject of a number of recent research reports. Wedbush set a $35.00 price objective on shares of Arcus Biosciences and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Bank of America raised their price target on Arcus Biosciences from $17.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Truist Financial set a $30.00 price objective on Arcus Biosciences in a research note on Friday, December 12th. HC Wainwright raised their target price on shares of Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Wall Street Zen upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.89.

Hedge Funds Weigh In On Arcus Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCUS. Jacobs Levy Equity Management Inc. increased its holdings in shares of Arcus Biosciences by 39.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,120,062 shares of the company’s stock valued at $15,233,000 after purchasing an additional 314,757 shares during the last quarter. Vestal Point Capital LP bought a new stake in shares of Arcus Biosciences during the 3rd quarter worth about $3,400,000. Public Employees Retirement System of Ohio acquired a new position in Arcus Biosciences in the 3rd quarter valued at about $299,000. Parkman Healthcare Partners LLC raised its holdings in Arcus Biosciences by 8.9% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 652,680 shares of the company’s stock valued at $8,876,000 after acquiring an additional 53,070 shares during the period. Finally, Decheng Capital LLC raised its holdings in Arcus Biosciences by 242.3% in the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $7,447,000 after acquiring an additional 387,609 shares during the period. 92.89% of the stock is owned by 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.