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Terry J. Rosen, the Chief Executive Officer of Arcus Biosciences, Inc. (NYSE:RCUS), recently purchased a substantial amount of the company’s common stock, according to a recent SEC filing. On February 27, 2025, Rosen acquired 19,800 shares at a weighted average price of $10.175 per share. The total purchase amounted to $201,465. The timing is notable as InvestingPro data shows the stock trading near its 52-week low of $9.86, with analyst price targets ranging from $17 to $46.
This transaction increased Rosen’s direct ownership to 2,554,160 shares. The shares were acquired in multiple transactions, with prices ranging from $10.13 to $10.185 per share. According to InvestingPro analysis, the stock appears undervalued, with technical indicators suggesting oversold conditions after a 10.75% decline in the past week. Get access to 10+ additional ProTips and comprehensive insider trading analysis with an InvestingPro subscription.
In other recent news, Arcus Biosciences reported a robust cash position with approximately $992 million in cash, cash equivalents, and marketable securities as of December 31, 2024. The company also announced the expiration of Gilead Sciences (NASDAQ:GILD)’ option to license casdatifan, allowing Arcus to retain full global development and commercial rights to the drug, except in certain Asian territories. Arcus Biosciences is moving forward with a $150 million stock offering, priced at $11 per share, to fund ongoing research and development, including the clinical advancement of casdatifan. This offering is expected to close on February 19, 2025, with Goldman Sachs & Co. LLC, Leerink Partners, and Evercore ISI as joint book-running managers.
H.C. Wainwright recently adjusted Arcus Biosciences’ stock rating, upgrading it to Buy and setting a price target of $24, based on the potential of the casdatifan and cabozantinib combination for clear cell renal cell carcinoma. However, the firm also reduced the price target to $18 while maintaining a Neutral rating after presenting updated ARC-20 study data at the ASCO-GU symposium. The study showed a confirmed objective response rate (ORR) of 25% to 33% across different dosages, with a median progression-free survival of 9.7 months for the 50 mg twice daily cohort.
Arcus is set to initiate the PEAK-1 Phase 3 trial in the second quarter of 2025, evaluating casdatifan in combination with cabozantinib. The company is also collaborating with AstraZeneca (NASDAQ:AZN) on the eVOLVE study, testing casdatifan with a bispecific antibody in IO-naive ccRCC patients. These developments, along with the company’s strong financial position, highlight Arcus’s commitment to advancing cancer treatments.
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