Key Points
- Arcus Biosciences President Juan Jaen sold 20,067 shares on July 10 at an average price of $28.62, totaling about $574,318. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Jaen still held 822,240 shares valued at roughly $23.5 million, reducing his position by 2.38%.
- The company’s stock opened at $28.12 and has climbed near its 52-week high of $31.74, while analysts currently rate Arcus Biosciences a Moderate Buy with an average target price of $35.10.
Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) President Juan Jaen sold 20,067 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $28.62, for a total transaction of $574,317.54. Following the transaction, the president owned 822,240 shares of the company's stock, valued at approximately $23,532,508.80. This represents a 2.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Arcus Biosciences Stock Performance
Shares of NYSE RCUS opened at $28.12 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market cap of $3.54 billion, a P/E ratio of -8.84 and a beta of 0.80. The firm's fifty day moving average is $25.98 and its two-hundred day moving average is $23.53. Arcus Biosciences, Inc. has a 52-week low of $8.84 and a 52-week high of $31.74.
Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.10). Arcus Biosciences had a negative return on equity of 68.97% and a negative net margin of 156.36%.The company had revenue of $17.00 million during the quarter, compared to analysts' expectations of $29.48 million. During the same quarter in the previous year, the firm earned ($1.14) EPS. The firm's revenue for the quarter was down 39.3% compared to the same quarter last year. As a group, analysts anticipate that Arcus Biosciences, Inc. will post -3.66 EPS for the current fiscal year.
Institutional Trading of Arcus Biosciences
Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Arcus Biosciences by 309.4% in 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 last quarter. Marshall Wace LLP purchased a new position in Arcus Biosciences in the fourth quarter worth about $80,731,000. Suvretta Capital Management LLC increased its stake in Arcus Biosciences by 40.7% during the fourth 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. Toronto Dominion Bank bought a new stake in Arcus Biosciences during the fourth quarter worth approximately $35,380,000. Finally, Vanguard Group Inc. increased its stake in Arcus Biosciences by 20.1% during the fourth quarter. Vanguard Group Inc. now owns 7,962,874 shares of the company's stock worth $189,755,000 after acquiring an additional 1,333,421 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Lifesci Capital began coverage on Arcus Biosciences in a research report on Thursday, June 4th. They issued an "outperform" rating and a $46.00 target price on the stock. The Goldman Sachs Group raised their price target on Arcus Biosciences from $30.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Wedbush lifted their price objective on Arcus Biosciences from $37.00 to $41.00 and gave the stock an "outperform" rating in a research note on Thursday, April 2nd. Wall Street Zen cut Arcus Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Truist Financial assumed coverage on Arcus Biosciences in a research report on Monday, May 18th. They set a "buy" rating and a $35.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.10.
Read Our Latest Analysis 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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