Arcus Biosciences, Inc. (NYSE:RCUS) Chief Operating Officer Jennifer Jarrett has sold a significant number of shares in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on March 18, 2024, involved the sale of company stock valued at over $240,000.
The filing revealed that Jarrett sold a total of 12,153 shares at a weighted average price of $17.84 and 1,296 shares at an average of $18.62. These sales occurred in multiple transactions with prices ranging from $17.39 to $18.38 for the first set of shares and $18.44 to $18.92 for the second set. The sales were executed to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs), as part of the company's equity administration policy established in January 2021.
Following these transactions, Jarrett continues to hold 226,804 shares of Arcus Biosciences. It is important to note that the sales were automatic and in accordance with the company's pre-determined policy, not reflecting discretionary trading decisions by the COO.
Investors and followers of Arcus Biosciences will likely keep an eye on insider transactions such as these for insights into executive perspectives on the company's stock value and performance.
InvestingPro Insights
As Arcus Biosciences, Inc. (NYSE:RCUS) sees significant insider transactions, it's vital for investors to consider the broader financial context of the company. According to InvestingPro data, Arcus Biosciences holds a market capitalization of approximately $1.59 billion USD. Despite recent insider sales, the company's stock price remains above the year-to-date low, with the previous close at $17.30 USD.
The company's financial health shows a mixed picture. With a negative P/E ratio of -5.17 for the last twelve months as of Q4 2023, it reflects the company's lack of profitability during this period. This aligns with an InvestingPro Tip indicating that analysts do not anticipate Arcus Biosciences will be profitable this year. Additionally, the company has experienced a 1-week price total return of -9.19%, which may concern some investors. However, it is essential to note that the company's liquid assets exceed its short-term obligations, suggesting a degree of financial stability.
For those seeking to delve deeper into the financial intricacies of Arcus Biosciences, InvestingPro offers additional insights. There are currently six more InvestingPro Tips available for RCUS, including observations on the company's cash burn rate and dividend policy. Interested readers can discover these valuable tips and more on the InvestingPro platform. Plus, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a comprehensive toolkit for discerning investors.
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