Robert Goeltz II Sells 7,763 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CFO Robert Goeltz II sold 7,763 shares of Arcus Biosciences stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.63, for a total value of $198,965.69. Following the sale, the chief financial officer directly owned 84,161 shares of the company’s stock, valued at approximately $2,157,046.43. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Trading Up 0.5%

Shares of RCUS stock opened at $25.02 on Thursday. 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 business has a 50-day moving average price of $23.26 and a two-hundred day moving average price of $22.32. Arcus Biosciences, Inc. has a 12-month low of $7.91 and a 12-month high of $28.72. The firm has a market cap of $3.15 billion, a P/E ratio of -7.87 and a beta of 0.87.

Arcus Biosciences (NYSE:RCUS) last issued its quarterly 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 return on equity of 68.97% and a negative net margin of 156.36%.The firm had revenue of $17.00 million for the quarter, compared to the consensus estimate of $29.49 million. During the same period last year, the firm earned ($1.14) EPS. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. Equities analysts anticipate that Arcus Biosciences, Inc. will post -3.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RCUS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Leerink Partners set a $47.00 price target on Arcus Biosciences in a research note on Monday, April 20th. Morgan Stanley lifted their price objective on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company set a $23.00 price objective on Arcus Biosciences and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Arcus Biosciences in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Arcus Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its holdings in shares of Arcus Biosciences by 121.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after buying an additional 881 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after buying an additional 2,845 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Arcus Biosciences in the fourth quarter worth about $39,000. KBC Group NV purchased a new position in shares of Arcus Biosciences in the first quarter worth about $50,000. Finally, Strs Ohio purchased a new position in shares of Arcus Biosciences in the first quarter worth about $67,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

About Arcus Biosciences

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.