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

Arcus Biosciences, Inc. (NYSE:RCUSGet Rating) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 8,460,000 shares, an increase of 48.2% from the March 31st total of 5,710,000 shares. Approximately 19.0% of the company’s stock are short sold. Based on an average daily volume of 991,900 shares, the short-interest ratio is presently 8.5 days.

In other news, COO Jennifer Jarrett sold 9,617 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $31.62, for a total transaction of $304,089.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 19.71% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Arcus Biosciences by 263.8% during the first quarter. SG Americas Securities LLC now owns 94,186 shares of the company’s stock worth $2,973,000 after acquiring an additional 68,297 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Arcus Biosciences by 10.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 43,000 shares of the company’s stock worth $1,436,000 after acquiring an additional 3,900 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Arcus Biosciences during the first quarter worth about $644,000. Barclays PLC grew its position in shares of Arcus Biosciences by 3.8% during the fourth quarter. Barclays PLC now owns 57,912 shares of the company’s stock worth $2,344,000 after acquiring an additional 2,102 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Arcus Biosciences by 13.8% during the fourth quarter. Wells Fargo & Company MN now owns 43,177 shares of the company’s stock worth $1,746,000 after acquiring an additional 5,229 shares during the last quarter. Institutional investors and hedge funds own 63.67% of the company’s stock.

Shares of NYSE:RCUS traded down $0.67 on Friday, reaching $24.21. 742,559 shares of the company’s stock were exchanged, compared to its average volume of 1,747,074. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 56.30 and a beta of 0.85. Arcus Biosciences has a fifty-two week low of $22.36 and a fifty-two week high of $49.10. The business’s 50-day moving average is $32.76 and its two-hundred day moving average is $35.65.

Arcus Biosciences (NYSE:RCUSGet Rating) last issued its earnings results on Wednesday, February 23rd. The company reported $3.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.13) by $4.84. The company had revenue of $354.50 million for the quarter, compared to analysts’ expectations of $8.87 million. Arcus Biosciences had a net margin of 13.80% and a return on equity of 7.96%. Sell-side analysts anticipate that Arcus Biosciences will post -2.07 EPS for the current year.

RCUS has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of Arcus Biosciences from $45.00 to $43.00 in a report on Thursday, January 13th. SVB Leerink reaffirmed an “outperform” rating on shares of Arcus Biosciences in a report on Friday, January 7th. Zacks Investment Research cut shares of Arcus Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. TheStreet raised shares of Arcus Biosciences from a “d” rating to a “c” rating in a report on Monday, March 21st. Finally, Truist Financial upped their price target on shares of Arcus Biosciences from $70.00 to $77.00 in a report on Friday, February 25th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $64.43.

About Arcus Biosciences (Get Rating)

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. Its product pipeline includes, Etrumadenant, a dual A2a/A2b adenosine receptor antagonist, which is in a Phase 1b/2 clinical trial; and Zimberelimab, an anti-PD-1 antibody that is in Phase 1b clinical trial for monotherapy.

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