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

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 9,900,000 shares, an increase of 25.2% from the April 30th total of 7,910,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 8.5 days. Approximately 15.5% of the company's shares are short sold.

Arcus Biosciences Stock Performance

Shares of NYSE:RCUS traded up $0.01 during trading on Thursday, hitting $9.61. The company's stock had a trading volume of 313,853 shares, compared to its average volume of 1,080,564. The company has a 50-day moving average of $8.33 and a 200-day moving average of $11.51. Arcus Biosciences has a 12 month low of $6.50 and a 12 month high of $18.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -3.05 and a beta of 0.88.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.12). Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The business had revenue of $28.00 million during the quarter, compared to analysts' expectations of $38.61 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The business's quarterly revenue was down 80.7% on a year-over-year basis. On average, sell-side analysts expect that Arcus Biosciences will post -3.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RCUS. R Squared Ltd acquired a new position in Arcus Biosciences during the 4th quarter valued at approximately $26,000. Strs Ohio acquired a new stake in Arcus Biosciences during the first quarter worth about $67,000. E Fund Management Co. Ltd. acquired a new stake in Arcus Biosciences during the first quarter worth about $82,000. Lazard Asset Management LLC increased its position in Arcus Biosciences by 3,321.3% during the fourth quarter. Lazard Asset Management LLC now owns 6,261 shares of the company's stock worth $93,000 after purchasing an additional 6,078 shares during the last quarter. Finally, Knott David M Jr purchased a new position in Arcus Biosciences during the first quarter worth about $94,000. Institutional investors own 92.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Arcus Biosciences from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group cut their target price on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and increased their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, February 26th. Wedbush reissued an "outperform" rating and set a $33.00 target price on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Arcus Biosciences from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.13.

About Arcus Biosciences

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.