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

Arcus Biosciences, Inc. (NYSE:RCUS) was the recipient of a significant decrease in short interest in 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. Approximately 14.5% of the shares of the company are sold short. Based on an average trading volume of 819,200 shares, the days-to-cover ratio is presently 8.3 days.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in Arcus Biosciences by 20.8% in the 3rd quarter. Citigroup Inc. now owns 145,729 shares of the company’s stock valued at $2,616,000 after acquiring an additional 25,083 shares during the period. Vanguard Group Inc. grew its stake in shares of Arcus Biosciences by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock worth $80,664,000 after purchasing an additional 61,040 shares during the last quarter. Trexquant Investment LP acquired a new stake in Arcus Biosciences in the third quarter valued at $1,412,000. Seven Eight Capital LP bought a new position in Arcus Biosciences during the 3rd quarter worth $292,000. Finally, Dark Forest Capital Management LP acquired a new position in Arcus Biosciences during the 3rd quarter worth about $686,000. Institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $50.00 target price on shares of Arcus Biosciences in a research note on Monday, March 25th. Mizuho dropped their target price on Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Finally, Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Arcus Biosciences in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Arcus Biosciences Stock Up 0.5 %

Shares of NYSE:RCUS traded up $0.07 during trading on Monday, hitting $15.63. 624,432 shares of the company were exchanged, compared to its average volume of 796,955. Arcus Biosciences has a 1-year low of $12.95 and a 1-year high of $25.47. The company has a market capitalization of $1.42 billion, a P/E ratio of -3.80 and a beta of 0.81. The business’s 50 day moving average is $17.48 and its 200-day moving average is $16.62.

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