Short Interest in Arcus Biosciences, Inc. (NYSE:RCUS) Rises By 25.2%

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RCUS. Gilead Sciences Inc. acquired a new stake in Arcus Biosciences in the 4th quarter worth approximately $447,610,000. Barclays PLC lifted its stake in shares of Arcus Biosciences by 49.0% in the third quarter. Barclays PLC now owns 118,693 shares of the company's stock worth $1,816,000 after buying an additional 39,015 shares during the last quarter. Norges Bank bought a new stake in shares of Arcus Biosciences during the 4th quarter worth $507,000. Raymond James Financial Inc. acquired a new position in Arcus Biosciences in the 4th quarter valued at $531,000. Finally, US Bancorp DE grew its stake in Arcus Biosciences by 2,432.0% in the 4th quarter. US Bancorp DE now owns 6,887 shares of the company's stock valued at $103,000 after buying an additional 6,615 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RCUS. HC Wainwright raised shares of Arcus Biosciences from a "neutral" rating to a "buy" rating and boosted their target price for the company from $18.00 to $24.00 in a research note on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $33.00 price objective on shares of Arcus Biosciences in a research note on Wednesday, May 7th. Morgan Stanley reduced their price target 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 lowered their price objective on shares of Arcus Biosciences from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America cut their target price on shares of Arcus Biosciences from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Arcus Biosciences has an average rating of "Moderate Buy" and an average target price of $24.13.

Arcus Biosciences Stock Up 3.8%

NYSE:RCUS traded up $0.37 during mid-day trading on Friday, reaching $10.00. The stock had a trading volume of 843,753 shares, compared to its average volume of 866,745. The stock has a market cap of $1.06 billion, a P/E ratio of -3.17 and a beta of 0.88. The business's 50 day moving average is $8.41 and its 200 day moving average is $11.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences has a fifty-two week low of $6.50 and a fifty-two week high of $18.98.

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

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.