Arcus Biosciences, Inc. (NYSE:RCUS) Short Interest Update

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

Arcus Biosciences Price Performance

NYSE:RCUS opened at $21.97 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. Arcus Biosciences has a one year low of $6.50 and a one year high of $26.40. The company has a fifty day moving average price of $22.95 and a 200 day moving average price of $16.32. The stock has a market cap of $2.37 billion, a P/E ratio of -6.39 and a beta of 0.77.

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

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 6,552 shares of Arcus Biosciences stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $23.38, for a total value of $153,185.76. Following the completion of the sale, the chief financial officer directly owned 67,924 shares in the company, valued at $1,588,063.12. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Markus sold 4,494 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $22.16, for a total transaction of $99,587.04. Following the completion of the sale, the insider directly owned 65,647 shares of the company’s stock, valued at $1,454,737.52. This represents a 6.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 422,060 shares of company stock worth $9,286,202 over the last quarter. Insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Arcus Biosciences by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,596,329 shares of the company’s stock valued at $12,995,000 after buying an additional 207,097 shares in the last quarter. Tema Etfs LLC increased its stake in Arcus Biosciences by 291.2% in the second quarter. Tema Etfs LLC now owns 59,662 shares of the company’s stock valued at $486,000 after acquiring an additional 44,411 shares during the period. Squarepoint Ops LLC raised its position in Arcus Biosciences by 163.7% in the second quarter. Squarepoint Ops LLC now owns 199,649 shares of the company’s stock worth $1,625,000 after purchasing an additional 123,938 shares in the last quarter. Nordea Investment Management AB lifted its stake in Arcus Biosciences by 17.1% during the second quarter. Nordea Investment Management AB now owns 319,899 shares of the company’s stock worth $2,633,000 after purchasing an additional 46,776 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Arcus Biosciences during the second quarter worth about $295,000. Institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RCUS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating on shares of Arcus Biosciences in a report on Monday, December 15th. Wells Fargo & Company lifted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wedbush set a $35.00 target price on shares of Arcus Biosciences and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.