Arcus Biosciences, Inc. (NYSE:RCUS) Short Interest Down 17.1% in April

Arcus Biosciences, Inc. (NYSE:RCUS) saw a large decrease in short interest during 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 volume of 819,200 shares, the short-interest ratio is presently 8.3 days. Currently, 14.5% of the company’s stock are short sold.

Arcus Biosciences Stock Up 5.6 %

Shares of NYSE:RCUS opened at $15.55 on Friday. The firm’s 50-day simple moving average is $17.48 and its 200-day simple moving average is $16.61. Arcus Biosciences has a fifty-two week low of $12.95 and a fifty-two week high of $25.47.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Wednesday, February 21st. The company reported ($1.08) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.01. The business had revenue of $31.00 million for the quarter, compared to the consensus estimate of $28.30 million. Arcus Biosciences had a negative net margin of 262.39% and a negative return on equity of 57.17%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.93) earnings per share. Equities research analysts expect that Arcus Biosciences will post -3.59 EPS for the current fiscal year.

Insider Buying and Selling at Arcus Biosciences

In other Arcus Biosciences news, President Juan C. Jaen sold 3,900 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.06, for a total value of $78,234.00. Following the sale, the president now directly owns 1,211,365 shares of the company’s stock, valued at approximately $24,299,981.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Jennifer Jarrett sold 11,551 shares of Arcus Biosciences stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.55, for a total transaction of $202,720.05. Following the sale, the chief operating officer now directly owns 215,253 shares in the company, valued at approximately $3,777,690.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Juan C. Jaen sold 3,900 shares of Arcus Biosciences stock in a transaction 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 sale, the president now owns 1,211,365 shares in the company, valued at $24,299,981.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,455 shares of company stock valued at $1,014,779. Insiders own 13.80% of the company’s stock.

Institutional Trading of Arcus Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its holdings in Arcus Biosciences by 20.8% during the third quarter. Citigroup Inc. now owns 145,729 shares of the company’s stock worth $2,616,000 after buying an additional 25,083 shares in the last quarter. Vanguard Group Inc. raised its position in Arcus Biosciences by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,493,818 shares of the company’s stock worth $80,664,000 after acquiring an additional 61,040 shares during the last quarter. Trexquant Investment LP acquired a new position in Arcus Biosciences during the third quarter worth about $1,412,000. Seven Eight Capital LP acquired a new position in Arcus Biosciences during the third quarter worth about $292,000. Finally, Dark Forest Capital Management LP acquired a new position in Arcus Biosciences during the third quarter worth about $686,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial reissued a “buy” rating and set a $50.00 price objective on shares of Arcus Biosciences in a research report on Monday, March 25th. Mizuho lowered their price objective on shares of Arcus Biosciences from $51.00 to $42.00 and set a “buy” rating on the stock in a research report 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 report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.25.

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.