Arcus Bio (RCUS) with a notable insider buy last week on 3/31 when a director added 20,000 shares at $28.35, a more than $566,000 investment. This follows Gilead buying an additional $220M in stock in January at $39 and boosting their stake to 19.5%. Shares are back at the 200-day MA and big breakout spot from November. It also trades just below the 50% retracement of the strong run from late 2020 to early 2021. The $2B company trades 2.75X cash and 25.65X sales. RCUS focuses on cancer therapies with their pipeline including an anti-PD-1 antibody, an anti-TIGIT monoclonal antibody, and a small-molecule CD73 inhibitor. In May 2020, Gilead struck a deal with RCUS that could be worth $2B in a back-loaded deal as they invest in their immuno-oncology products and look to close the gap with peers like Merck and Roche to bring an anti-TIGIT mAb to market. RCUS believes their program is potentially the best option for solid tumors with no evidence of ADAs and 100% TIGIT occupancy on blood lymphocytes achieved. They have a busy 2021 expected including readouts this quarter in NSCLC and in the 2H in Metastatic castrate-resistant prostate cancer. Truist was out positive on 1/19 with a $70 PT. Ecor1 Capital, Boxer Capital, and Hillhouse are other notable holders.