Arcus Biosciences (NYSE:RCUS) Insider Richard Markus Sells 4,494 Shares of Stock

Arcus Biosciences, Inc. (NYSE:RCUS) insider Richard Markus sold 4,494 shares of Arcus Biosciences stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total value of $99,587.04. Following the completion of the sale, the insider directly owned 65,647 shares in the company, valued at $1,454,737.52. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Richard Markus also recently made the following trade(s):

• On Tuesday, December 16th, Richard Markus sold 5,052 shares of Arcus Biosciences stock. The stock was sold at an average price of $21.88, for a total value of $110,537.76.

Arcus Biosciences Price Performance

Arcus Biosciences stock opened at $22.02 on Friday. The firm’s fifty day moving average is $20.96 and its 200 day moving average is $14.04. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -6.40 and a beta of 0.75. Arcus Biosciences, Inc. has a 52-week low of $6.50 and a 52-week high of $26.40.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. Arcus Biosciences had a negative net margin of 136.40% and a negative return on equity of 68.17%. The firm had revenue of $26.00 million during the quarter, compared to the consensus estimate of $19.89 million. During the same quarter last year, the firm earned ($1.00) EPS. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. Sell-side analysts forecast that Arcus Biosciences, Inc. will post -3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RCUS. Vanguard Group Inc. increased its holdings in shares of Arcus Biosciences by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 6,687,800 shares of the company’s stock valued at $52,499,000 after purchasing an additional 1,298,584 shares in the last quarter. Woodline Partners LP raised its holdings 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 valued at $40,249,000 after acquiring an additional 1,603,367 shares during the last quarter. Geode Capital Management LLC raised its stake in Arcus Biosciences by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock valued at $12,995,000 after purchasing an additional 207,097 shares during the last quarter. Bank of America Corp DE raised its position in shares of Arcus Biosciences by 173.5% in the third quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock valued at $18,507,000 after buying an additional 863,162 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Arcus Biosciences by 35.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,266,289 shares of the company’s stock valued at $17,222,000 after acquiring an additional 330,268 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RCUS. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcus Biosciences in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Arcus Biosciences from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Citigroup reiterated a “buy” rating on shares of Arcus Biosciences in a research note on Friday, December 12th. HC Wainwright raised their price objective on Arcus Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Truist Financial set a $30.00 target price on shares of Arcus Biosciences in a research note on Friday, December 12th. Eight 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.89.

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.