Arcus Biosciences, Inc. (NYSE:RCUS) Sees Significant Increase in Short Interest

Arcus Biosciences, Inc. (NYSE:RCUS) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 9,594,327 shares, an increase of 22.5% from the December 15th total of 7,830,605 shares. Based on an average daily trading volume, of 1,710,084 shares, the short-interest ratio is presently 5.6 days. Approximately 9.8% of the shares of the company are short sold. Approximately 9.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,710,084 shares, the short-interest ratio is presently 5.6 days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RCUS shares. Wall Street Zen upgraded shares of Arcus Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday. Citigroup reissued a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. Wells Fargo & Company lifted their target price on Arcus Biosciences from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. UBS Group reaffirmed a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Transactions at Arcus Biosciences

In other news, COO Jennifer Jarrett sold 11,225 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $21.88, for a total value of $245,603.00. Following the completion of the sale, the chief operating officer directly owned 203,007 shares in the company, valued at approximately $4,441,793.16. The trade was a 5.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Terry J. Rosen sold 28,947 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total value of $633,360.36. Following the sale, the chief executive officer directly owned 2,220,553 shares in the company, valued at approximately $48,585,699.64. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 422,060 shares of company stock worth $9,286,202. 9.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in Arcus Biosciences by 173.5% during the third quarter. Bank of America Corp DE now owns 1,360,781 shares of the company’s stock worth $18,507,000 after purchasing an additional 863,162 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Arcus Biosciences by 727.1% during the 3rd quarter. Fisher Asset Management LLC now owns 729,153 shares of the company’s stock valued at $9,916,000 after purchasing an additional 640,990 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Arcus Biosciences by 106.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 914,208 shares of the company’s stock worth $7,177,000 after buying an additional 470,755 shares in the last quarter. Decheng Capital LLC raised its stake in shares of Arcus Biosciences by 242.3% in the 3rd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $7,447,000 after buying an additional 387,609 shares in the last quarter. Finally, Candriam S.C.A. acquired a new stake in shares of Arcus Biosciences in the third quarter valued at $5,147,000. 92.89% of the stock is currently owned by institutional investors.

Arcus Biosciences Stock Performance

Shares of RCUS traded up $0.04 during mid-day trading on Monday, reaching $21.83. 1,195,233 shares of the company’s stock traded hands, compared to its average volume of 1,360,838. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $26.40. The stock has a market capitalization of $2.36 billion, a P/E ratio of -6.35 and a beta of 0.77. The business’s 50-day moving average price is $22.92 and its 200-day moving average price is $16.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65.

Arcus Biosciences (NYSE:RCUS) last posted its earnings results on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.06. Arcus Biosciences had a negative return on equity of 68.17% and a negative net margin of 136.40%.The firm had revenue of $26.00 million for the quarter, compared to analysts’ expectations of $19.89 million. During the same period last year, the firm earned ($1.00) EPS. The firm’s revenue was down 45.8% compared to the same quarter last year. Equities analysts predict that Arcus Biosciences will post -3.15 earnings per share for the current year.

About Arcus Biosciences

Arcus Biosciences is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel cancer immunotherapies. The company’s research platform centers on modulating tumor microenvironments and immune checkpoints through both small-molecule and antibody-based candidates. Arcus aims to enhance antitumor immune responses by targeting pathways such as the adenosine axis and inhibitory receptors on immune cells.

The company’s lead clinical programs include etrumadenant, an orally administered A2A adenosine receptor antagonist being evaluated in combination with anti-PD-1 therapy, and domvanalimab, an anti-TIGIT monoclonal antibody.