Arcus Biosciences (NYSE:RCUS) CAO Alexander Azoy Sells 2,831 Shares

Key Points

• Alexander Azoy, the CAO of Arcus Biosciences, sold 2,831 shares at an average price of $13.00, totaling $36,803, which reflects a 9.38% decrease in his holdings.
• Arcus Biosciences stocks experienced a 2.2% increase on the market, trading at $13.61, with a significant trading volume of 1,644,852 shares.
• The company reported a positive earnings surprise with a quarterly EPS of ($1.11), beating expectations, and a 310.3% increase in revenue year-over-year, totaling $160 million.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) CAO Alexander Azoy sold 2,831 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $13.00, for a total transaction of $36,803.00. Following the completion of the sale, the chief accounting officer directly owned 27,363 shares of the company's stock, valued at $355,719. This trade represents a 9.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Alexander Azoy also recently made the following trade(s):

• On Friday, September 5th, Alexander Azoy sold 1,579 shares of Arcus Biosciences stock. The shares were sold at an average price of $11.88, for a total transaction of $18,758.52.

Arcus Biosciences Stock Up 2.2%

NYSE:RCUS traded up $0.29 during trading hours on Tuesday, hitting $13.61. The stock had a trading volume of 1,644,852 shares, compared to its average volume of 862,148. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. Arcus Biosciences, Inc. has a 1-year low of $6.50 and a 1-year high of $18.98. The business has a 50 day simple moving average of $10.82 and a two-hundred day simple moving average of $9.38. The company has a market cap of $1.45 billion, a PE ratio of -4.29 and a beta of 0.83.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.03. Arcus Biosciences had a negative net margin of 109.56% and a negative return on equity of 55.96%. The company had revenue of $160.00 million during the quarter, compared to the consensus estimate of $32.86 million. During the same quarter last year, the company earned ($1.02) earnings per share. Arcus Biosciences's revenue for the quarter was up 310.3% on a year-over-year basis. Analysts predict that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on RCUS. Wells Fargo & Company decreased their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.14.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Arcus Biosciences by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,405 shares of the company's stock valued at $144,000 after purchasing an additional 6,453 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Arcus Biosciences by 106.2% during the first quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company's stock worth $7,177,000 after buying an additional 470,755 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Arcus Biosciences by 18.6% during the first quarter. Yousif Capital Management LLC now owns 24,829 shares of the company's stock worth $195,000 after buying an additional 3,893 shares during the last quarter. Rhumbline Advisers raised its position in shares of Arcus Biosciences by 14.8% during the first quarter. Rhumbline Advisers now owns 182,909 shares of the company's stock worth $1,436,000 after purchasing an additional 23,645 shares during the period. Finally, Woodline Partners LP raised 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 purchasing an additional 1,603,367 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.

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