Arcus Biosciences (NYSE:RCUS) CFO Robert Goeltz II Sells 7,763 Shares

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

Arcus Biosciences Stock Performance

Shares of RCUS opened at $24.93 on Wednesday. The stock has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $22.26. 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 stock has a market capitalization of $3.13 billion, a PE ratio of -7.84 and a beta of 0.87. Arcus Biosciences, Inc. has a 1 year low of $7.91 and a 1 year high of $28.72.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.10). The company had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.49 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.14) EPS. On average, analysts predict that Arcus Biosciences, Inc. will post -3.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Wellington Management Group LLP lifted its stake 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 buying an additional 3,918,220 shares during the last quarter. Marshall Wace LLP purchased a new stake in Arcus Biosciences in the fourth quarter valued at approximately $80,731,000. Suvretta Capital Management LLC lifted its stake 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 valued at $123,650,000 after buying an additional 1,500,000 shares during the last quarter. Toronto Dominion Bank purchased a new stake in Arcus Biosciences in the fourth quarter valued at approximately $35,380,000. Finally, Vanguard Group Inc. lifted its stake in Arcus Biosciences by 20.1% in the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company’s stock valued at $189,755,000 after buying an additional 1,333,421 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

RCUS has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their target price on Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Arcus Biosciences in a research note on Monday, March 2nd. Citigroup boosted their target price on Arcus Biosciences from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Truist Financial upgraded Arcus Biosciences to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Wedbush boosted 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 assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Arcus Biosciences Company Profile

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.