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Arcus Biosciences (NASDAQ:RCUS) Chief Operating Officer Jennifer Jarrett sold 50,292 shares of common stock on October 6 and October 8, according to a Form 4 filing with the Securities and Exchange Commission. The transaction comes as the stock trades near $15, showing strong momentum with a 114% surge over the past six months. According to InvestingPro analysis, the stock is currently trading close to its Fair Value. The sales, executed under a pre-arranged 10b5-1 trading plan, fetched prices ranging from $14.40 to $15.16, resulting in proceeds of approximately $750,412.
The filing indicates that Ms. Jarrett sold 12,500 shares on October 6 at a price of $14.5441 per share, and 37,792 shares on October 8 at a price of $15.0458.
On the same dates, Ms. Jarrett exercised options to acquire a total of 50,292 shares of Arcus Biosciences common stock at a price of $1.2276, for a total value of $61,738.
Following these transactions, Ms. Jarrett directly owns 214,232 shares of Arcus Biosciences.
In other recent news, Arcus Biosciences has reported promising new data for its kidney cancer drug, casdatifan. The company’s HIF-2a inhibitor showed superior results in its Phase 1/1b study, with a median progression-free survival of 12.2 months and a confirmed overall response rate of 31%. Following these developments, several analyst firms have adjusted their outlooks on Arcus Biosciences. Truist Securities raised its price target for the company to $39.00, citing the drug’s potential as "best-in-class" for kidney cancer treatment. Mizuho also increased its price target to $45.00, forecasting significant worldwide sales for casdatifan. Cantor Fitzgerald reiterated its Overweight rating, highlighting the innovative strides Arcus Biosciences is making in the renal cell carcinoma treatment space. Additionally, H.C. Wainwright maintained its Buy rating, focusing on new monotherapy data and future immunology assets. These updates reflect a growing confidence among analysts in Arcus Biosciences’ potential in the oncology field.
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