Robert Goeltz II Sells 6,552 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CFO Robert Goeltz II sold 6,552 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $23.38, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arcus Biosciences Price Performance

RCUS stock opened at $23.22 on Friday. The stock has a 50-day moving average price of $22.39 and a two-hundred day moving average price of $15.13. Arcus Biosciences, Inc. has a 1 year low of $6.50 and a 1 year high of $26.40. The stock has a market cap of $2.51 billion, a PE ratio of -6.75 and a beta of 0.77. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly 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 company had revenue of $26.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.00) earnings per share. Equities analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Several hedge funds have recently bought and sold shares of RCUS. Vanguard Group Inc. increased its position in Arcus Biosciences by 1.1% during the third quarter. Vanguard Group Inc. now owns 6,629,453 shares of the company’s stock worth $90,161,000 after buying an additional 73,210 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after acquiring an additional 1,603,367 shares during the period. Geode Capital Management LLC increased its holdings in shares of Arcus Biosciences by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock worth $12,995,000 after acquiring an additional 207,097 shares during the last quarter. Bank of America Corp DE raised its stake in Arcus Biosciences by 173.5% in the 3rd quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after acquiring an additional 863,162 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Arcus Biosciences by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock valued at $17,222,000 after purchasing an additional 330,268 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCUS has been the topic of a number of research reports. Wall Street Zen raised shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a research note on Friday, December 12th. UBS Group reaffirmed a “buy” rating on shares of Arcus Biosciences in a research report on Monday, December 15th. Wells Fargo & Company increased their price target on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Wedbush set a $35.00 price target on Arcus Biosciences and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arcus Biosciences has an average rating of “Moderate Buy” and an average price target of $28.89.

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.