Arcus Biosciences (NYSE:RCUS) COO Jennifer Jarrett Sells 37,792 Shares of Stock

Key Points

• Jennifer Jarrett, COO of Arcus Biosciences, sold 37,792 shares of the company's stock on October 8th for a total of $568,769.60, reducing her ownership by 15%.
• Despite the sell-off, Arcus Biosciences' stock price rose by 7.3% to $15.05, with recent trading volumes exceeding average levels.
• The company reported a 310.3% increase in quarterly revenue year-over-year, amounting to $160 million, and surpassed earnings expectations by 3 cents.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) COO Jennifer Jarrett sold 37,792 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $15.05, for a total value of $568,769.60. Following the completion of the sale, the chief operating officer directly owned 214,232 shares in the company, valued at approximately $3,224,191.60. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $181,750.00.

Arcus Biosciences Stock Up 7.3%

RCUS stock traded up $1.02 during midday trading on Wednesday, hitting $15.05. The stock had a trading volume of 1,203,374 shares, compared to its average volume of 964,504. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -4.75 and a beta of 0.77. The business has a 50-day moving average of $11.32 and a two-hundred day moving average of $9.58. Arcus Biosciences, Inc. has a 52-week low of $6.50 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.50 and a quick ratio of 4.50.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.03. Arcus Biosciences had a negative return on equity of 55.96% and a negative net margin of 109.56%.The company had revenue of $160.00 million for the quarter, compared to analysts' expectations of $32.86 million. During the same period in the prior year, the firm earned ($1.02) earnings per share. The firm's revenue for the quarter was up 310.3% on a year-over-year basis. As a group, equities research analysts forecast that Arcus Biosciences, Inc. will post -3.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcus Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Arcus Biosciences by 59.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,748 shares of the company's stock valued at $37,000 after purchasing an additional 1,021 shares in the last quarter. CWM LLC raised its position in shares of Arcus Biosciences by 233.6% in the 2nd quarter. CWM LLC now owns 5,441 shares of the company's stock worth $44,000 after acquiring an additional 3,810 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Arcus Biosciences by 34.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company's stock worth $57,000 after buying an additional 1,796 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Arcus Biosciences by 440.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock worth $62,000 after buying an additional 6,191 shares during the last quarter. Finally, Strs Ohio purchased a new position in Arcus Biosciences during the 1st quarter worth $67,000. 92.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial reaffirmed a "buy" rating and set a $39.00 price objective (up from $32.00) on shares of Arcus Biosciences in a research report on Tuesday. Wells Fargo & Company lowered their target price on Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcus Biosciences in a report on Wednesday. Finally, Wall Street Zen raised Arcus Biosciences from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.38.

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.

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