Insider Selling: Arcus Biosciences, Inc. (NYSE:RCUS) President Sells 2,333 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS – Get Rating) President Juan C. Jaen sold 2,333 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $20.72, for a total value of $48,339.76. Following the completion of the sale, the president now directly owns 212,574 shares in the company, valued at $4,404,533.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of RCUS traded up $1.54 during midday trading on Tuesday, reaching $23.56. The stock had a trading volume of 1,078,693 shares, compared to its average volume of 1,068,026. The company’s 50-day moving average is $23.11 and its 200 day moving average is $31.11. Arcus Biosciences, Inc. has a 12-month low of $16.74 and a 12-month high of $49.10. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 42.84 and a beta of 1.02.

Arcus Biosciences (NYSE:RCUS – Get Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.83 by ($1.79). Arcus Biosciences had a net margin of 14.67% and a return on equity of 8.25%. The company had revenue of $18.01 million for the quarter, compared to analysts’ expectations of $163.47 million. During the same quarter in the prior year, the company earned ($1.08) earnings per share. As a group, equities analysts forecast that Arcus Biosciences, Inc. will post -4.03 earnings per share for the current fiscal year.

A number of brokerages have weighed in on RCUS. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a report on Friday, April 1st. Truist Financial boosted their price objective on Arcus Biosciences from $70.00 to $77.00 in a report on Friday, February 25th. TheStreet raised Arcus Biosciences from a “d” rating to a “c” rating in a research report on Monday, March 21st. Finally, Wedbush cut their target price on Arcus Biosciences from $67.00 to $42.00 in a research report on Wednesday, May 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $60.86.

Several large investors have recently made changes to their positions in the company. EcoR1 Capital LLC increased its holdings in shares of Arcus Biosciences by 53.6% in the 3rd quarter. EcoR1 Capital LLC now owns 5,122,359 shares of the company’s stock worth $178,617,000 after purchasing an additional 1,787,112 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Arcus Biosciences by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 3,512,114 shares of the company’s stock worth $110,843,000 after buying an additional 85,778 shares during the last quarter. State Street Corp lifted its position in Arcus Biosciences by 25.5% during the first quarter. State Street Corp now owns 2,749,919 shares of the company’s stock valued at $86,787,000 after purchasing an additional 557,988 shares in the last quarter. Woodline Partners LP lifted its position in Arcus Biosciences by 0.4% during the fourth quarter. Woodline Partners LP now owns 1,706,425 shares of the company’s stock valued at $69,059,000 after purchasing an additional 7,312 shares in the last quarter. Finally, Pictet Asset Management SA lifted its position in Arcus Biosciences by 9.8% during the fourth quarter. Pictet Asset Management SA now owns 1,648,990 shares of the company’s stock valued at $66,735,000 after purchasing an additional 147,762 shares in the last quarter. 73.54% of the stock is owned by hedge funds and other institutional investors.

Arcus Biosciences Company Profile (Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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