Arcus Biosciences (NYSE:RCUS) President Juan Jaen Sells 20,067 Shares

Arcus Biosciences, Inc. (NYSE:RCUS) President Juan Jaen sold 20,067 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $28.62, for a total value of $574,317.54. Following the completion of the sale, the president owned 822,240 shares of the company’s stock, valued at $23,532,508.80. This trade represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock opened at $28.12 on Tuesday. The stock has a market cap of $3.54 billion, a P/E ratio of -8.84 and a beta of 0.80. 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’s fifty day moving average is $25.98 and its 200 day moving average is $23.53. Arcus Biosciences, Inc. has a one year low of $8.84 and a one year high of $31.74.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $29.48 million. Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The business’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.14) EPS. Sell-side analysts anticipate that Arcus Biosciences, Inc. will post -3.66 earnings per share for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Hedge funds have recently made changes to their positions in the business. Tema ETFs LLC grew its position in shares of Arcus Biosciences by 10.5% during the second quarter. Tema ETFs LLC now owns 83,140 shares of the company’s stock worth $2,563,000 after purchasing an additional 7,927 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in Arcus Biosciences in the 2nd quarter worth approximately $1,202,000. GAMMA Investing LLC lifted its holdings in Arcus Biosciences by 10.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $122,000 after purchasing an additional 359 shares in the last quarter. California State Teachers Retirement System boosted its stake in Arcus Biosciences by 16.7% in the 1st quarter. California State Teachers Retirement System now owns 105,776 shares of the company’s stock worth $2,285,000 after purchasing an additional 15,110 shares during the period. Finally, Royal Bank of Canada boosted its stake in Arcus Biosciences by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,758 shares of the company’s stock worth $102,000 after purchasing an additional 607 shares during the period. Institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RCUS. The Goldman Sachs Group increased their target price on shares of Arcus Biosciences from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Lifesci Capital started coverage on shares of Arcus Biosciences in a research report on Thursday, June 4th. They issued an “outperform” rating and a $46.00 price target for the company. Leerink Partners set a $47.00 price target on shares of Arcus Biosciences in a research report on Monday, April 20th. Finally, Wedbush increased their price objective on shares of Arcus Biosciences from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.10.

About Arcus Biosciences

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.