Key Points
- Arcus Biosciences CFO Robert Goeltz II sold 7,763 shares on May 11 at an average price of $25.63, totaling about $198,966. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still held 84,161 shares afterward.
- The company recently reported weaker-than-expected quarterly results, posting an EPS loss of $1.02 versus estimates of $0.92 loss and revenue of $17.0 million versus $29.49 million expected. Revenue fell 39.3% year over year.
- Wall Street sentiment remains mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $33.33. Institutional ownership is high at 92.89% of shares outstanding.
Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) CFO Robert Goeltz II sold 7,763 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $25.63, for a total value of $198,965.69. Following the completion of the sale, the chief financial officer owned 84,161 shares of the company's stock, valued at approximately $2,157,046.43. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcus Biosciences Price Performance
Shares of NYSE RCUS opened at $24.93 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.19. Arcus Biosciences, Inc. has a twelve month low of $7.91 and a twelve month high of $28.72. The stock has a 50 day moving average of $23.23 and a two-hundred day moving average of $22.26. The stock has a market cap of $3.13 billion, a P/E ratio of -7.84 and a beta of 0.87.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.10). Arcus Biosciences had a negative net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analysts' expectations of $29.49 million. During the same quarter in the prior year, the firm posted ($1.14) EPS. Arcus Biosciences's quarterly revenue was down 39.3% compared to the same quarter last year. On average, research analysts forecast that Arcus Biosciences, Inc. will post -3.55 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its holdings in Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company's stock worth $38,000 after acquiring an additional 881 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Arcus Biosciences during the fourth quarter worth $39,000. KBC Group NV acquired a new position in Arcus Biosciences during the first quarter worth $50,000. SBI Securities Co. Ltd. grew its holdings in Arcus Biosciences by 13,547.6% during the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company's stock worth $39,000 after acquiring an additional 2,845 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Arcus Biosciences by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 3,230 shares of the company's stock worth $77,000 after acquiring an additional 482 shares during the period. Institutional investors and hedge funds own 92.89% of the company's stock.
Wall Street Analysts Forecast Growth
RCUS has been the topic of a number of recent research reports. Wall Street Zen lowered Arcus Biosciences from a "hold" rating to a "sell" rating in a report on Saturday. HC Wainwright reissued a "buy" rating and issued a $32.00 target price on shares of Arcus Biosciences in a report on Monday, March 2nd. The Goldman Sachs Group boosted their target price on Arcus Biosciences from $30.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Leerink Partners set a $47.00 target price on Arcus Biosciences in a report on Monday, April 20th. Finally, Wells Fargo & Company set a $23.00 target price on Arcus Biosciences and gave the company an "equal weight" rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.33.
Get Our Latest Stock Report on RCUS
About Arcus Biosciences
(
Get Free Report)
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.
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