Key Points
- Juan Jaen, Arcus Biosciences' president, sold 82,997 shares on Dec. 4 at an average price of $24.71 for about $2.05M, trimming his stake by 8% to 954,063 shares (≈$23.57M).
- Arcus (NYSE:RCUS) trades near $25.50 with a $2.75B market cap; last quarter EPS was -$1.27 (slightly beating estimates) and revenue was $26M (beat estimates) but revenue is down 45.8% year-over-year and the company shows negative net margin and ROE.
- Institutional investors own roughly 92.9% of the stock—notably a 31.4M-share stake by Gilead—and analysts' consensus is a "Moderate Buy" with an average price target of about $29.44.
Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) President Juan Jaen sold 82,997 shares of the company's stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.71, for a total value of $2,050,855.87. Following the sale, the president owned 954,063 shares in the company, valued at approximately $23,574,896.73. This represents a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Arcus Biosciences Price Performance
NYSE:RCUS opened at $25.50 on Friday. The stock has a market capitalization of $2.75 billion, a PE ratio of -7.41 and a beta of 0.75. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $26.40. The firm has a fifty day simple moving average of $19.25 and a 200 day simple moving average of $13.13. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm had revenue of $26.00 million for the quarter, compared to analyst estimates of $19.89 million. During the same period in the prior year, the firm posted ($1.00) earnings per share. The company's quarterly revenue was down 45.8% compared to the same quarter last year. On average, research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.
Institutional Investors Weigh In On Arcus Biosciences
A number of institutional investors have recently modified their holdings of RCUS. Gilead Sciences Inc. lifted its stake in shares of Arcus Biosciences by 4.5% in the first 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 period. Vanguard Group Inc. lifted its position in shares of Arcus Biosciences by 24.1% in the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company's stock worth $52,499,000 after purchasing an additional 1,298,584 shares during the period. Woodline Partners LP boosted its stake in shares of Arcus Biosciences by 45.5% in the 1st quarter. Woodline Partners LP now owns 5,127,304 shares of the company's stock valued at $40,249,000 after purchasing an additional 1,603,367 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arcus Biosciences by 14.9% during the second quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company's stock worth $12,995,000 after buying an additional 207,097 shares during the period. Finally, Bank of America Corp DE increased its position 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 worth $18,507,000 after buying an additional 863,162 shares during the period. Institutional investors own 92.89% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on RCUS shares. Truist Financial reissued a "buy" rating and set a $39.00 price target (up previously from $32.00) on shares of Arcus Biosciences in a research report on Tuesday, October 7th. The Goldman Sachs Group increased their price target on Arcus Biosciences from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, October 20th. Finally, Wall Street Zen downgraded shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Arcus Biosciences currently has an average rating of "Moderate Buy" and an average price target of $29.44.
View Our Latest Research Report on RCUS
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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