The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Arcus Biosciences Inc. shares valued at $146,734 were sold by Jarrett Jennifer on Mar 16. At $16.81 per share, Jarrett Jennifer sold 8,729 shares. The insider’s holdings dropped to 406,217 shares worth approximately $7.11 million following the completion of this transaction.
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Also, Jarrett Jennifer sold 1,600 shares, netting a total of over 37,632 in proceeds. Following the sale of shares at $23.52 each, the insider now holds 414,946 shares.
Before that, Jarrett Jennifer had sold 300 shares from its account. In a trade valued at $7,068, the Chief Operating Officer traded Arcus Biosciences Inc. shares for $23.56 each. Upon closing the transaction, the insider’s holdings decreased to 300 shares, worth approximately $7.29 million.
Analyzing RCUS Stock Performance
On Thursday, Arcus Biosciences Inc. [NYSE: RCUS] plunged -3.05% to $17.50. The stock’s lowest price that day was $16.91, but it reached a high of $18.00 in the same session. During the last five days, there has been a drop of approximately -0.62%. Over the course of the year, Arcus Biosciences Inc. shares have dropped approximately -15.38%. Shares of the company reached a 52-week high of $23.63 on 01/27/23 and a 52-week low of $15.70 on 03/10/23. A 50-day SMA is recorded $18.09, while a 200-day SMA reached $22.84. Nevertheless, trading volume fell to 1.01 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Arcus Biosciences Inc. (RCUS)
According to the 24-hour chart, there is a support level at 16.94, which, if violated, would cause prices to drop to 16.38. In the upper region, resistance lies at 18.03. The next price resistance is at 18.56. RSI (Relative Strength Index) is 43.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 83.29%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Arcus Biosciences Inc. subject to short interest?
Stocks of Arcus Biosciences Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 0.13 million shares to 7.81 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 7.68 million shares. A jump of 1.66% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 10.44.
Which companies own the most shares of Arcus Biosciences Inc. (RCUS)?
According to BlackRock Fund Advisors filings, the company currently owns 8,681,419 shares, which is about 11.89% of the total RCUS shares outstanding. The investor’s shares have appreciated by 299,829 from its previous 13-F filing of 8381590.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $98,108,116. The Vanguard Group, Inc. acquire a 1.17% interest valued at $77.49 million while Fidelity Management & Research Co sold a -5,976 stake. A total of -310,700 shares of Arcus Biosciences Inc. were sold by Octagon Capital Advisors LP during the quarter, and 942,429 were bought by Citadel Advisors LLC. In its current portfolio, PFM Health Sciences LP holds 1,559,947 shares valued at $27.85 million.
In terms of Arcus Biosciences Inc. share price expectations, FactSet research, analysts set an average price target of $43.00 in the next 12 months, up nearly 121.61% from the previous closing price of $18.05. Analysts anticipate Arcus Biosciences Inc. stock to reach $70.00 by 2023, with the lowest price target being $22.00. In spite of this, 12 analysts ranked Arcus Biosciences Inc. stock as a Buy at the end of 2023.