Key Points
- Juan Jaen sold 5,050 shares on Nov. 18 at an average price of $19.75 for about $99,737, leaving him with 1,037,060 shares (a 0.48% ownership reduction), per an SEC filing.
- Arcus shares rose 4.5% to $21.13 after the company beat Q3 EPS and revenue expectations ($-1.27 EPS vs. -1.33 expected; $26M revenue vs. $19.89M expected), but it remains unprofitable with a -136.4% net margin and revenue down 45.8% YoY.
- Analyst sentiment is mixed but tilting positive with a consensus rating of “Moderate Buy” and an average price target of $28.44, while institutional investors (including Gilead) own roughly 92.9% of the stock.
Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) President Juan Jaen sold 5,050 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $19.75, for a total value of $99,737.50. Following the sale, the president directly owned 1,037,060 shares of the company's stock, valued at approximately $20,481,935. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Arcus Biosciences Stock Up 4.5%
Shares of Arcus Biosciences stock traded up $0.91 on Thursday, hitting $21.13. The company had a trading volume of 347,451 shares, compared to its average volume of 1,093,605. The firm has a market capitalization of $2.28 billion, a P/E ratio of -6.12 and a beta of 0.90. Arcus Biosciences, Inc. has a twelve month low of $6.50 and a twelve month high of $22.11. The stock has a 50-day moving average of $16.25 and a 200-day moving average of $11.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its 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 company had revenue of $26.00 million for the quarter, compared to analysts' expectations of $19.89 million. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. Arcus Biosciences's quarterly revenue was down 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.00) EPS. Research analysts predict that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on RCUS. Wall Street Zen cut shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, November 1st. HC Wainwright increased their target price on shares of Arcus Biosciences from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, October 29th. Wedbush set a $35.00 price objective on Arcus Biosciences and gave the stock an "outperform" rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on Arcus Biosciences from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arcus Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $28.44.
Check Out Our Latest Research Report on Arcus Biosciences
Hedge Funds Weigh In On Arcus Biosciences
A number of hedge funds and other institutional investors have recently bought and sold shares of RCUS. Gilead Sciences Inc. grew its position in Arcus Biosciences by 4.5% during the 1st quarter. Gilead Sciences Inc. now owns 31,424,760 shares of the company's stock worth $246,684,000 after acquiring an additional 1,363,636 shares during the last quarter. Vanguard Group Inc. raised its holdings in Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock valued at $52,499,000 after buying an additional 1,298,584 shares during the last quarter. Woodline Partners LP boosted its position in Arcus Biosciences by 45.5% during the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock valued at $40,249,000 after buying an additional 1,603,367 shares during the period. Geode Capital Management LLC increased its position in shares of Arcus Biosciences by 14.9% in the second quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company's stock valued at $12,995,000 after acquiring an additional 207,097 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of 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 valued at $18,507,000 after acquiring an additional 863,162 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.
Arcus Biosciences Company Profile
(
Get Free Report)
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.
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