Short Interest in Arcus Biosciences Inc (NYSE:RCUS) Drops By 20.9%

Arcus Biosciences Inc (NYSE:RCUS) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,590,000 shares, a decrease of 20.9% from the September 30th total of 2,010,000 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average daily volume of 245,600 shares, the days-to-cover ratio is currently 6.5 days.

NYSE:RCUS traded down $0.02 during mid-day trading on Thursday, hitting $7.97. The company’s stock had a trading volume of 54,579 shares, compared to its average volume of 171,959. Arcus Biosciences has a 1 year low of $6.30 and a 1 year high of $13.77. The stock has a market cap of $366.42 million, a price-to-earnings ratio of -5.57 and a beta of 0.99. The business’s fifty day moving average is $8.31 and its two-hundred day moving average is $8.46.

Arcus Biosciences (NYSE:RCUS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.02). Arcus Biosciences had a negative net margin of 1,180.37% and a negative return on equity of 38.73%. The business had revenue of $1.75 million during the quarter, compared to analysts’ expectations of $1.34 million. On average, equities research analysts predict that Arcus Biosciences will post -2 EPS for the current fiscal year.

Several equities research analysts have commented on RCUS shares. SunTrust Banks started coverage on shares of Arcus Biosciences in a report on Tuesday. They issued a “buy” rating and a $20.00 price target on the stock. ValuEngine raised shares of Arcus Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Mizuho reaffirmed a “buy” rating and issued a $22.00 price target on shares of Arcus Biosciences in a report on Monday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $17.35.

Several hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its stake in shares of Arcus Biosciences by 17.3% during the 2nd quarter. GSA Capital Partners LLP now owns 16,243 shares of the company’s stock worth $129,000 after acquiring an additional 2,392 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Arcus Biosciences during the 2nd quarter worth about $32,000. Meeder Asset Management Inc. boosted its stake in shares of Arcus Biosciences by 672.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,939 shares of the company’s stock worth $46,000 after acquiring an additional 4,300 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Arcus Biosciences by 10.5% during the 3rd quarter. Rhumbline Advisers now owns 48,859 shares of the company’s stock worth $445,000 after acquiring an additional 4,660 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Arcus Biosciences by 32.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,315 shares of the company’s stock worth $195,000 after acquiring an additional 5,278 shares in the last quarter. 46.83% of the stock is currently owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.

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