Insider Selling: Arcus Biosciences (NYSE:RCUS) COO Sells 12,500 Shares of Stock

Key Points

• Jennifer Jarrett, the COO of Arcus Biosciences, sold 12,500 shares at an average price of $14.54, resulting in a total transaction value of $181,750, reducing her ownership by 5.51% to 214,232 shares.
• On October 8th, Jarrett sold another 37,792 shares at an average price of $15.05, totaling approximately $568,769.60.
• Arcus Biosciences reported a 310.3% revenue increase year-on-year, with quarterly revenue of $160 million, beating analyst estimates of $32.86 million.

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) COO Jennifer Jarrett sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $14.54, for a total value of $181,750.00. Following the sale, the chief operating officer directly owned 214,232 shares of the company's stock, valued at $3,114,933.28. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, October 8th, Jennifer Jarrett sold 37,792 shares of Arcus Biosciences stock. The stock was sold at an average price of $15.05, for a total value of $568,769.60.

Arcus Biosciences Trading Up 7.3%

Shares of RCUS stock traded up $1.02 on Wednesday, reaching $15.05. 1,203,374 shares of the company's stock were exchanged, compared to its average volume of 964,504. Arcus Biosciences, Inc. has a 52 week low of $6.50 and a 52 week high of $18.98. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.60 billion, a PE ratio of -4.75 and a beta of 0.77. The company's fifty day simple moving average is $11.32 and its 200 day simple moving average is $9.58.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $160.00 million for the quarter, compared to the consensus estimate of $32.86 million. During the same period last year, the business posted ($1.02) EPS. The business's revenue was up 310.3% compared to the same quarter last year. As a group, analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current year.

Institutional Trading of Arcus Biosciences

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Arcus Biosciences by 59.1% in the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company's stock worth $37,000 after acquiring an additional 1,021 shares during the last quarter. CWM LLC boosted its holdings in Arcus Biosciences by 233.6% during the second quarter. CWM LLC now owns 5,441 shares of the company's stock worth $44,000 after purchasing an additional 3,810 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Arcus Biosciences by 34.3% in the second quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company's stock valued at $57,000 after acquiring an additional 1,796 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Arcus Biosciences by 440.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,597 shares of the company's stock valued at $62,000 after acquiring an additional 6,191 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Arcus Biosciences in the first quarter valued at about $67,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RCUS shares. Weiss Ratings restated a "sell (d-)" rating on shares of Arcus Biosciences in a research report on Wednesday. Wall Street Zen raised Arcus Biosciences from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Truist Financial reaffirmed a "buy" rating and issued a $39.00 price objective (up previously from $32.00) on shares of Arcus Biosciences in a report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Arcus Biosciences from $26.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.38.

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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