Stock Traders Buy Large Volume of Arcus Biosciences Call Options (NYSE:RCUS)

Arcus Biosciences, Inc. (NYSE:RCUS) saw some unusual options trading activity on Friday. Stock investors purchased 2,692 call options on the stock. This is an increase of 359% compared to the typical daily volume of 586 call options.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 82,997 shares of Arcus Biosciences stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $24.71, for a total value of $2,050,855.87. Following the transaction, the president owned 954,063 shares in the company, valued at $23,574,896.73. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Jarrett sold 37,792 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $15.05, for a total transaction of $568,769.60. Following the completion of the transaction, the chief operating officer directly owned 214,232 shares in the company, valued at approximately $3,224,191.60. The trade was a 15.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 294,193 shares of company stock worth $6,098,761. 9.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcus Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of RCUS. Woodline Partners LP lifted its holdings in Arcus Biosciences by 45.5% in the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after purchasing an additional 1,603,367 shares during the period. Gilead Sciences Inc. boosted its holdings in Arcus Biosciences by 4.5% during the first quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company’s stock worth $246,684,000 after buying an additional 1,363,636 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after acquiring an additional 1,298,584 shares in the last quarter. RA Capital Management L.P. acquired a new position in shares of Arcus Biosciences in the 1st quarter worth $8,920,000. Finally, Wellington Management Group LLP acquired a new position in shares of Arcus Biosciences in the 1st quarter worth $8,500,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Stock Down 14.2%

RCUS stock opened at $21.58 on Friday. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $20.36 and a 200-day simple moving average of $13.71. The company has a market capitalization of $2.33 billion, a P/E ratio of -6.27 and a beta of 0.75. Arcus Biosciences has a twelve month low of $6.50 and a twelve month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, topping the consensus estimate of ($1.33) by $0.06. The company had revenue of $26.00 million during the quarter, compared to analyst estimates of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same period last year, the business earned ($1.00) EPS. On average, equities research analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on RCUS. Wells Fargo & Company lifted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Bank of America lifted their price target on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the company an “outperform” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research report on Friday. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.89.

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.