Arcus Biosciences (NYSE:RCUS) Shares Gap Down After Insider Selling

Arcus Biosciences, Inc. (NYSE:RCUS) shares gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $23.20, but opened at $22.14. Arcus Biosciences shares last traded at $21.18, with a volume of 292,661 shares trading hands.

Specifically, President Juan C. Jaen sold 31,823 shares of Arcus Biosciences stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.41, for a total value of $681,330.43. Following the completion of the transaction, the president directly owned 922,240 shares of the company’s stock, valued at approximately $19,745,158.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert C. Goeltz II sold 6,552 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total value of $153,185.76. Following the sale, the chief financial officer owned 67,924 shares in the company, valued at approximately $1,588,063.12. The trade was a 8.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial set a $30.00 target price on Arcus Biosciences in a report on Friday, December 12th. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Bank of America increased their target price on shares of Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a report on Thursday. Finally, UBS Group reiterated a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

Arcus Biosciences Trading Down 1.6%

The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.27 billion, a P/E ratio of -6.11 and a beta of 0.77. The firm’s 50-day moving average price is $22.60 and its 200 day moving average price is $15.54.

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

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Arcus Biosciences by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock valued at $90,161,000 after acquiring an additional 73,210 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 207,097 shares during the last quarter. Bank of America Corp DE boosted its holdings in Arcus Biosciences by 173.5% during the third 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 during the last quarter. Wellington Management Group LLP grew its position in Arcus Biosciences by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock worth $17,222,000 after purchasing an additional 330,268 shares in the last quarter. Finally, Sofinnova Investments Inc. increased its stake in Arcus Biosciences by 17.2% in the 2nd quarter. Sofinnova Investments Inc. now owns 1,216,016 shares of the company’s stock valued at $9,898,000 after buying an additional 178,240 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

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.