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

Shares of Arcus Biosciences, Inc. (NYSE:RCUS) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $20.19, but opened at $18.54. Arcus Biosciences shares last traded at $19.3550, with a volume of 913,143 shares.

Specifically, President Juan C. Jaen sold 77,840 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $20.90, for a total value of $1,626,856.00. Following the completion of the sale, the president directly owned 1,091,374 shares of the company’s stock, valued at $22,809,716.60. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Juan C. Jaen sold 19,019 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $20.19, for a total value of $383,993.61. Following the completion of the sale, the president directly owned 1,169,214 shares of the company’s stock, valued at $23,606,430.66. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, CFO Robert C. Goeltz II sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer directly owned 92,138 shares of the company’s stock, valued at $1,842,760. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Arcus Biosciences from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen downgraded Arcus Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Truist Financial reaffirmed a “buy” rating and issued a $39.00 price objective (up from $32.00) on shares of Arcus Biosciences in a research note on Tuesday, October 7th. Finally, Citigroup raised their price objective on Arcus Biosciences from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday. Seven equities 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, Arcus Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.44.

Arcus Biosciences Trading Down 2.5%

The business has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $10.73. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -5.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.50 and a current ratio of 3.65.

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

Institutional Investors Weigh In On Arcus Biosciences

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after buying an additional 1,021 shares during the last quarter. CWM LLC grew its holdings in Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after buying an additional 3,810 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Arcus Biosciences by 34.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after buying an additional 1,796 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Arcus Biosciences by 440.3% during the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company’s stock worth $62,000 after purchasing an additional 6,191 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Arcus Biosciences during the first quarter worth $67,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

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.