Alexander Azoy Sells 2,562 Shares of Arcus Biosciences (NYSE:RCUS) Stock

Arcus Biosciences, Inc. (NYSE:RCUS) CAO Alexander Azoy sold 2,562 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74. Following the sale, the chief accounting officer directly owned 39,581 shares of the company’s stock, valued at $1,020,002.37. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Arcus Biosciences Stock Performance

Arcus Biosciences stock opened at $24.42 on Wednesday. The firm’s 50 day simple moving average is $23.61 and its 200-day simple moving average is $22.73. The company has a market cap of $3.07 billion, a P/E ratio of -7.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.04 and a quick ratio of 4.04. Arcus Biosciences, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $28.72.

Arcus Biosciences (NYSE:RCUS) last issued 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 net margin of 156.36% and a negative return on equity of 68.97%. The firm had revenue of $17.00 million during the quarter, compared to analysts’ expectations of $29.49 million. During the same quarter last year, the company posted ($1.14) EPS. The firm’s revenue was down 39.3% compared to the same quarter last year. As a group, equities research analysts predict that Arcus Biosciences, Inc. will post -3.54 EPS for the current year.

Hedge Funds Weigh In On Arcus Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in shares of Arcus Biosciences by 121.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company’s stock worth $38,000 after acquiring an additional 881 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Arcus Biosciences by 13,547.6% in the third quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock valued at $39,000 after purchasing an additional 2,845 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Arcus Biosciences in the 4th quarter worth about $39,000. KBC Group NV acquired a new position in Arcus Biosciences in the 1st quarter worth about $50,000. Finally, Strs Ohio purchased a new stake in shares of Arcus Biosciences during the 1st quarter worth about $67,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on RCUS shares. Wall Street Zen lowered Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Citigroup upped their price target on Arcus Biosciences from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Morgan Stanley increased their price objective on Arcus Biosciences from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.89.

Arcus Biosciences Company Profile

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.