Arcus Biosciences (NYSE:RCUS) President Juan Jaen Sells 6,431 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 6,431 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $29.66, for a total transaction of $190,743.46. Following the sale, the president owned 890,809 shares in the company, valued at $26,421,394.94. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arcus Biosciences Trading Up 2.0%

Shares of Arcus Biosciences stock opened at $28.74 on Thursday. The company has a market capitalization of $3.61 billion, a P/E ratio of -9.04 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 company has a fifty day moving average of $24.53 and a 200 day moving average of $22.92. Arcus Biosciences, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $29.85.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.10). The business had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.48 million. Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company’s quarterly revenue was down 39.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.14) EPS. On average, sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Leerink Partners set a $47.00 price target on Arcus Biosciences in a report on Monday, April 20th. Wedbush increased their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 2nd. HC Wainwright reiterated a “buy” rating and set a $32.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 2nd. Lifesci Capital started coverage on shares of Arcus Biosciences in a report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research report on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.10.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in Arcus Biosciences by 121.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $38,000 after buying an additional 881 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arcus Biosciences during the 4th quarter worth approximately $39,000. KBC Group NV purchased a new stake in shares of Arcus Biosciences during the 1st quarter worth approximately $50,000. GAMMA Investing LLC raised its holdings in shares of Arcus Biosciences by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 3,230 shares of the company’s stock worth $77,000 after acquiring an additional 482 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Arcus Biosciences by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock valued at $102,000 after acquiring an additional 607 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.