Arcus Biosciences, Inc.'s (NYSE:RCUS) Chief Operating Officer, Jennifer Jarrett, has sold a total of 11,551 shares of the company's common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 27, 2024, amounted to over $202,720 at an average weighted price of $17.55 per share.
The shares were disposed of in multiple transactions at prices ranging from $17.53 to $17.62. Following the sale, Jarrett remains a significant holder in the pharmaceutical company, with a total of 215,253 shares of Arcus Biosciences still in her possession.
Investors may note that the sale was conducted under a prearranged 10b5-1 trading plan, which was adopted by Jarrett on February 22, 2023. Such plans allow company insiders to set up a predetermined schedule for buying or selling shares at a time when they are not in possession of material, non-public information, thereby helping to avoid potential allegations of insider trading.
Arcus Biosciences, based in Hayward, California, specializes in pharmaceutical preparations and continues to be a closely watched entity in the biotech sector. The company's stock performance and insider transactions are often indicators of confidence and anticipated developments within the organization.
As with all insider transactions, this recent sale by the COO of Arcus Biosciences is publicly disclosed to provide transparency and maintain fair trading practices in the financial markets.
InvestingPro Insights
Following the recent insider sale by Arcus Biosciences' COO, market participants may be interested in the financial health and performance metrics of the company. According to InvestingPro data, Arcus Biosciences currently holds a market capitalization of approximately $1.72 billion. Despite a challenging profitability outlook, with analysts not expecting the company to be profitable this year, the stock has experienced a significant return over the last week, with a 14.91% price total return.
InvestingPro Tips suggest that while Arcus Biosciences holds more cash than debt, which is a positive sign for financial stability, the company is quickly burning through cash. Additionally, the company's liquid assets exceed short-term obligations, indicating a strong short-term financial position. However, it is important to note that Arcus Biosciences does not pay a dividend to shareholders, which may be a consideration for income-focused investors.
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