Short Interest in Arcus Biosciences, Inc. (NYSE:RCUS) Drops By 17.1%

Arcus Biosciences, Inc. (NYSE:RCUS) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,840,000 shares, a decrease of 17.1% from the March 31st total of 8,250,000 shares. Based on an average daily trading volume, of 819,200 shares, the short-interest ratio is presently 8.3 days. Currently, 14.5% of the shares of the company are sold short.

Insider Transactions at Arcus Biosciences

In other news, COO Jennifer Jarrett sold 24,555 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.07, for a total transaction of $492,818.85. Following the completion of the sale, the chief operating officer now owns 274,323 shares in the company, valued at $5,505,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Jennifer Jarrett sold 24,555 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.07, for a total value of $492,818.85. Following the completion of the sale, the chief operating officer now owns 274,323 shares in the company, valued at $5,505,662.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Juan C. Jaen sold 3,900 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $20.06, for a total transaction of $78,234.00. Following the completion of the sale, the president now owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,455 shares of company stock worth $1,014,779. Company insiders own 13.80% of the company’s stock.

Institutional Trading of Arcus Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of RCUS. AE Wealth Management LLC acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at $410,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Arcus Biosciences by 20.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,732 shares of the company’s stock valued at $246,000 after purchasing an additional 2,289 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at $28,000. Strs Ohio acquired a new position in shares of Arcus Biosciences in the 3rd quarter valued at $43,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Arcus Biosciences by 2.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 99,299 shares of the company’s stock valued at $1,782,000 after purchasing an additional 2,107 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RCUS has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $50.00 target price on shares of Arcus Biosciences in a report on Monday, March 25th. Mizuho dropped their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. Finally, Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Arcus Biosciences in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Arcus Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Arcus Biosciences Price Performance

RCUS stock traded down $0.39 during midday trading on Tuesday, hitting $15.24. The stock had a trading volume of 553,387 shares, compared to its average volume of 794,020. The firm has a market cap of $1.39 billion, a PE ratio of -3.67 and a beta of 0.81. Arcus Biosciences has a 12-month low of $12.95 and a 12-month high of $25.47. The company’s 50-day moving average price is $17.46 and its 200 day moving average price is $16.61.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, February 21st. The company reported ($1.08) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.01. The firm had revenue of $31.00 million during the quarter, compared to analysts’ expectations of $28.30 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. Arcus Biosciences’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.93) EPS. As a group, sell-side analysts anticipate that Arcus Biosciences will post -3.59 EPS for the current year.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.