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

Arcus Biosciences, Inc. (NYSE:RCUS) saw a large growth in short interest during the month of 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 trading volume of 1,710,084 shares, the days-to-cover ratio is currently 5.6 days. Currently, 9.8% of the shares of the stock are short sold. Currently, 9.8% of the shares of the stock are short sold. Based on an average trading volume of 1,710,084 shares, the days-to-cover ratio is currently 5.6 days.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RCUS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcus Biosciences in a report on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of Arcus Biosciences in a report on Friday, December 12th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (down previously from $23.00) on shares of Arcus Biosciences in a research report on Thursday, January 8th. Wedbush set a $35.00 price objective on shares of Arcus Biosciences and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group upgraded shares of Arcus Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $28.00 in a research report on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Activity

In other news, President Juan C. Jaen sold 82,997 shares of Arcus Biosciences stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $24.71, for a total value of $2,050,855.87. Following the transaction, the president owned 954,063 shares of the company’s stock, valued at $23,574,896.73. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Terry J. Rosen sold 28,947 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $21.88, for a total transaction of $633,360.36. Following the sale, the chief executive officer directly owned 2,220,553 shares of the company’s stock, 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. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Arcus Biosciences by 59.1% during the third quarter. GAMMA Investing LLC now owns 2,748 shares of the company’s stock valued at $37,000 after purchasing an additional 1,021 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Arcus Biosciences by 13,547.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 2,866 shares of the company’s stock worth $39,000 after purchasing an additional 2,845 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Arcus Biosciences during the 3rd quarter valued at about $69,000. CWM LLC lifted its holdings in shares of Arcus Biosciences by 233.6% during the 2nd quarter. CWM LLC now owns 5,441 shares of the company’s stock valued at $44,000 after buying an additional 3,810 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Arcus Biosciences by 34.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,038 shares of the company’s stock valued at $57,000 after buying an additional 1,796 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Arcus Biosciences Stock Up 0.2%

Shares of NYSE RCUS traded up $0.04 during mid-day trading on Monday, reaching $21.83. The company had a trading volume of 1,195,233 shares, compared to its average volume of 1,360,838. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -6.35 and a beta of 0.77. The stock has a fifty day moving average of $22.92 and a two-hundred day moving average of $16.23. Arcus Biosciences has a 12-month low of $6.50 and a 12-month high of $26.40.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($1.27) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.06. The firm 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 firm’s revenue was down 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.00) earnings per share. As a group, equities research analysts expect that Arcus Biosciences will post -3.15 EPS for the current year.

Arcus Biosciences Company Profile

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.