Insider Selling: Arcus Biosciences (NYSE:RCUS) COO Sells $245,603.00 in Stock

Arcus Biosciences, Inc. (NYSE:RCUS) COO Jennifer Jarrett sold 11,225 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $245,603.00. Following the sale, the chief operating officer owned 203,007 shares of the company’s stock, valued at $4,441,793.16. This trade represents a 5.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Jennifer Jarrett also recently made the following trade(s):

• On Wednesday, December 17th, Jennifer Jarrett sold 9,983 shares of Arcus Biosciences stock. The stock was sold at an average price of $22.16, for a total transaction of $221,223.28.
• On Monday, October 6th, Jennifer Jarrett sold 12,500 shares of Arcus Biosciences stock. The stock was sold at an average price of $14.54, for a total transaction of $181,750.00.
• On Wednesday, October 8th, Jennifer Jarrett sold 37,792 shares of Arcus Biosciences stock. The shares were sold at an average price of $15.05, for a total transaction of $568,769.60.

Arcus Biosciences Stock Down 1.2%

Arcus Biosciences stock traded down $0.26 during midday trading on Thursday, hitting $22.02. 1,175,874 shares of the stock were exchanged, compared to its average volume of 1,200,446. Arcus Biosciences, Inc. has a 52-week low of $6.50 and a 52-week high of $26.40. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $20.82 and its 200-day moving average price is $13.98. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -6.40 and a beta of 0.75.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $19.89 million. During the same quarter last year, the business posted ($1.00) EPS. The company’s revenue for the quarter was down 45.8% on a year-over-year basis. On average, research analysts expect that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcus Biosciences

Several large investors have recently modified their holdings of RCUS. Goldman Sachs Group Inc. lifted its stake in shares of Arcus Biosciences by 106.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock valued at $7,177,000 after buying an additional 470,755 shares in the last quarter. Geode Capital Management LLC grew its stake in Arcus Biosciences by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock valued at $12,995,000 after buying an additional 207,097 shares in the last quarter. Rhumbline Advisers raised its holdings in Arcus Biosciences by 14.8% during the 1st quarter. Rhumbline Advisers now owns 182,909 shares of the company’s stock valued at $1,436,000 after acquiring an additional 23,645 shares during the period. Tema Etfs LLC raised its holdings in Arcus Biosciences by 291.2% during the 2nd quarter. Tema Etfs LLC now owns 59,662 shares of the company’s stock valued at $486,000 after acquiring an additional 44,411 shares during the period. Finally, Woodline Partners LP lifted its position in shares of Arcus Biosciences by 45.5% during the first quarter. Woodline Partners LP now owns 5,127,304 shares of the company’s stock worth $40,249,000 after acquiring an additional 1,603,367 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RCUS shares. The Goldman Sachs Group lifted their price target on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. HC Wainwright raised their target price on Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. Wedbush set a $35.00 price target on shares of Arcus Biosciences and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Truist Financial set a $30.00 price objective on shares of Arcus Biosciences in a report on Friday, December 12th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.89.

Arcus Biosciences Company Profile

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.