Insider Selling: Arcus Biosciences (NYSE:RCUS) CAO Sells 2,827 Shares of Stock

Key Points

• Arcus Biosciences CAO Alexander Azoy sold 2,827 shares at an average price of $30, generating $84,810. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 6.67% to 39,581 shares.
• Arcus reported quarterly revenue of $41 million and an adjusted loss of $0.72 per share, beating analyst estimates, although revenue fell 74.4% year over year and the company remains unprofitable.
• The stock recently traded near $30.20, close to its one-year high of $31.74. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $37.80, while institutional investors own 92.89% of shares.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) CAO Alexander Azoy sold 2,827 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the completion of the sale, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. This represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Alexander Azoy sold 2,562 shares of Arcus Biosciences stock. The shares were sold at an average price of $25.77, for a total transaction of $66,022.74.

Arcus Biosciences Price Performance

Shares of Arcus Biosciences stock traded down $0.14 during trading hours on Monday, reaching $30.20. The company's stock had a trading volume of 1,296,258 shares, compared to its average volume of 1,246,869. The firm has a 50 day moving average price of $28.50 and a 200-day moving average price of $24.78. Arcus Biosciences, Inc. has a one year low of $10.07 and a one year high of $31.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market cap of $3.85 billion, a P/E ratio of -7.74 and a beta of 0.80.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.17. The firm had revenue of $41.00 million during the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative net margin of 393.16% and a negative return on equity of 89.54%. The company's revenue was down 74.4% on a year-over-year basis. On average, analysts predict that Arcus Biosciences, Inc. will post -3.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its position in Arcus Biosciences by 121.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,604 shares of the company's stock valued at $38,000 after buying an additional 881 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Arcus Biosciences during the fourth quarter worth approximately $39,000. KBC Group NV bought a new stake in shares of Arcus Biosciences during the first quarter valued at approximately $50,000. GAMMA Investing LLC raised its stake in shares of Arcus Biosciences by 10.0% during the second quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock valued at $122,000 after acquiring an additional 359 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Arcus Biosciences in the second quarter valued at approximately $134,000. 92.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wedbush increased their target price on shares of Arcus Biosciences from $41.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Truist Financial began coverage on shares of Arcus Biosciences in a research note on Monday, May 18th. They set a "buy" rating and a $35.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcus Biosciences in a report on Friday, July 17th. Wall Street Zen lowered shares of Arcus Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Morgan Stanley set a $23.00 target price on Arcus Biosciences in a research report on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Arcus Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.80.

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.

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