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In a recent transaction, Yasunori Kaneko, a director at Arcus Biosciences, Inc. (NYSE:RCUS), acquired 20,000 shares of the company’s common stock. The purchase, made on February 27, 2025, was executed at an average price of $10.06 per share, totaling $201,200. The timing is notable as the stock currently trades near its 52-week low of $9.86, down about 33% year-to-date. According to InvestingPro analysis, the stock appears undervalued and its RSI suggests oversold conditions. Following this acquisition, Kaneko’s direct ownership increased to 28,400 shares.
Additionally, Kaneko holds indirect ownership through various entities. This includes 252,524 shares owned by Kaneko Investments, LLC; 152,981 shares held in a trust, which includes 6,800 shares of restricted stock units that vested in June 2024; and 505,050 shares owned by Kaneko Capital, LLC. These holdings reflect Kaneko’s significant investment in Arcus Biosciences.
In other recent news, Arcus Biosciences announced a $150 million stock offering at $11.00 per share, aimed at funding the development of their cancer drug, casdatifan. The company retains full global rights to casdatifan after Gilead Sciences (NASDAQ:GILD)’ licensing option expired, and they have a strong cash position with approximately $992 million in cash and equivalents as of December 31, 2024. H.C. Wainwright adjusted Arcus Biosciences’ stock rating, upgrading it to Buy with a price target of $24.00, citing optimism about casdatifan’s potential in treating clear cell renal cell carcinoma. However, in a separate note, H.C. Wainwright also reduced the price target to $18 while maintaining a Neutral rating, based on updated data from the ARC-20 study. The study revealed a consistent objective response rate across different dosages, with a median progression-free survival of 9.7 months for the 50 mg BID cohort. Arcus plans to begin the Phase 3 PEAK-1 trial in the second quarter of 2025, evaluating casdatifan in combination with cabozantinib. The company’s collaboration with AstraZeneca (NASDAQ:AZN) on the eVOLVE study continues, targeting a different patient population. These developments highlight Arcus Biosciences’ ongoing efforts in advancing their cancer treatment pipeline.
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