Key Points
- Arcus Biosciences President Juan Jaen sold 9,236 shares on June 22 at an average price of $27.03, for about $249,649.08. After the sale, he still owned 913,004 shares, a 1% reduction in his stake.
- The company recently reported weaker-than-expected quarterly results, with EPS of -$1.02 versus estimates of -$0.92 and revenue of $17.0 million versus expectations of $29.48 million. Revenue also fell 39.3% year over year.
- Despite the earnings miss, analysts remain generally positive: eight rate the stock a Buy, with a consensus price target of $35.10. Institutional ownership is high at 92.89% of shares outstanding.
Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) President Juan Jaen sold 6,431 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $29.66, for a total transaction of $190,743.46. Following the transaction, the president owned 890,809 shares of the company's stock, valued at $26,421,394.94. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Arcus Biosciences Stock Performance
Arcus Biosciences stock opened at $28.74 on Thursday. The company's 50-day moving average price is $24.53 and its 200-day moving average price is $22.92. Arcus Biosciences, Inc. has a twelve month low of $7.91 and a twelve month high of $29.85. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.61 billion, a PE ratio of -9.04 and a beta of 0.85.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $17.00 million for the quarter, compared to analysts' expectations of $29.48 million. During the same quarter in the prior year, the company posted ($1.14) earnings per share. The firm's quarterly revenue was down 39.3% compared to the same quarter last year. On average, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company's stock valued at $189,755,000 after buying an additional 1,333,421 shares during the last quarter. Suvretta Capital Management LLC lifted its stake in shares of Arcus Biosciences by 40.7% during the 4th quarter. Suvretta Capital Management LLC now owns 5,188,858 shares of the company's stock worth $123,650,000 after acquiring an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Arcus Biosciences by 309.4% during the 4th quarter. Wellington Management Group LLP now owns 5,184,509 shares of the company's stock valued at $123,547,000 after acquiring an additional 3,918,220 shares during the period. State Street Corp grew its position in Arcus Biosciences by 34.8% in the 4th quarter. State Street Corp now owns 4,576,969 shares of the company's stock valued at $109,069,000 after acquiring an additional 1,182,115 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Arcus Biosciences in the 4th quarter valued at $80,731,000. Hedge funds and other institutional investors own 92.89% of the company's stock.
Analysts Set New Price Targets
RCUS has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Arcus Biosciences from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcus Biosciences in a research report on Monday, April 20th. HC Wainwright restated a "buy" rating and set a $32.00 price target on shares of Arcus Biosciences in a report on Monday, March 2nd. The Goldman Sachs Group raised their price target on Arcus Biosciences from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Truist Financial initiated coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They set a "buy" rating and a $35.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.10.
Get Our Latest Analysis on RCUS
Arcus Biosciences Company Profile
(
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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