Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Arcus Biosciences Inc. shares valued at $911,250 were sold by Jarrett Jennifer on Jul 28. At $20.25 per share, Jarrett Jennifer sold 45,000 shares. The insider’s holdings dropped to 336,566 shares worth approximately $7.75 million following the completion of this transaction.
Also, Azoy Alexander sold 1,018 shares, netting a total of over 20,777 in proceeds. Following the sale of shares at $20.41 each, the insider now holds 11,596 shares.
Before that, GILEAD SCIENCES, INC. had added 1,010,000 shares to its account. In a trade valued at $19,452,600, the 10% Owner bought Arcus Biosciences Inc. shares for $19.26 each. Upon closing the transaction, the insider’s holdings increased to 1,010,000 shares, worth approximately $341.37 million.
As published in their initiating research note from BofA Securities on November 18, 2022, Arcus Biosciences Inc. [RCUS] has been a Neutral and the price target has been revised to $33. This represents a 30.21% premium over Wednesday’s closing price.
Analyzing RCUS Stock Performance
On Wednesday, Arcus Biosciences Inc. [NYSE: RCUS] rose 22.43% to $23.03. The stock’s lowest price that day was $22.57, but it reached a high of $25.47 in the same session. During the last five days, there has been a surge of approximately 30.11%. Over the course of the year, Arcus Biosciences Inc. shares have jumped approximately 11.36%. Shares of the company reached a 52-week high of $25.47 on 08/23/23 and a 52-week low of $15.70 on 03/10/23. A 50-day SMA is recorded $19.73, while a 200-day SMA reached $20.92. Nevertheless, trading volume fell to 4.64 million shares from 0.53 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 21.91, which, if violated, would cause prices to drop to 20.79. In the upper region, resistance lies at 24.81. The next price resistance is at 26.59. RSI (Relative Strength Index) is 72.51 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.59, which suggests the price will increase in the coming days. Percent R is at 29.68%, indicating bullish 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 steep in short interest on Jul 30, 2023 dropping by -0.65 million shares to 7.24 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 7.89 million shares. A decline of -8.98% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.46 of the overall float, the days-to-cover ratio (short ratio) decline to 8.46.
Which companies own the most shares of Arcus Biosciences Inc. (RCUS)?
According to BlackRock Fund Advisors filings, the company currently owns 8,331,848 shares, which is about 11.40% of the total RCUS shares outstanding. The investor’s shares have plunged by -349,571 from its previous 13-F filing of 8681419.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $90,699,663. SSgA Funds Management, Inc. reduced a -21.00% interest valued at $86.41 million while The Vanguard Group, Inc. sold a -9,228 stake. A total of -204,000 shares of Arcus Biosciences Inc. were sold by Octagon Capital Advisors LP during the quarter, and 1,866,716 by Balyasny Asset Management LP. In its current portfolio, PFM Health Sciences LP holds 1,405,056 shares valued at $27.96 million.
In terms of Arcus Biosciences Inc. share price expectations, FactSet research, analysts set an average price target of $42.67 in the next 12 months, up nearly 109.99% from the previous closing price of $18.81. Analysts anticipate Arcus Biosciences Inc. stock to reach $70.00 by 2023, with the lowest price target being $21.00. In spite of this, 13 analysts ranked Arcus Biosciences Inc. stock as a Buy at the end of 2023.