Arcus Biosciences (NYSE:RCUS) General Counsel Carolyn Tang Sells 7,658 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) General Counsel Carolyn Tang sold 7,658 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $167,557.04. Following the transaction, the general counsel owned 131,544 shares in the company, valued at $2,878,182.72. This represents a 5.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arcus Biosciences Stock Performance

Shares of RCUS stock opened at $22.02 on Friday. The company has a 50 day moving average price of $20.96 and a 200-day moving average price of $14.04. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $26.40. The firm has a market capitalization of $2.38 billion, a PE ratio of -6.40 and a beta of 0.75. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $26.00 million for the quarter, compared to the consensus estimate of $19.89 million. During the same quarter in the prior year, the firm earned ($1.00) earnings per share. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. As a group, equities research analysts expect that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RCUS. Woodline Partners LP raised its holdings in Arcus Biosciences by 45.5% during the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock valued at $40,249,000 after acquiring an additional 1,603,367 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arcus Biosciences by 24.1% in the first quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock worth $52,499,000 after acquiring an additional 1,298,584 shares during the period. RA Capital Management L.P. purchased a new stake in shares of Arcus Biosciences during the first quarter worth about $8,920,000. Wellington Management Group LLP purchased a new stake in shares of Arcus Biosciences during the first quarter worth about $8,500,000. Finally, Bank of America Corp DE raised its stake in Arcus Biosciences by 173.5% during the 3rd quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after purchasing an additional 863,162 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RCUS shares. Bank of America raised their price target on Arcus Biosciences from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Truist Financial set a $30.00 target price on Arcus Biosciences in a report on Friday, December 12th. Wedbush set a $35.00 price target on Arcus Biosciences and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Wells Fargo & Company upped their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.89.

About Arcus Biosciences

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.