Arcus Biosciences Inc (NYSE:RCUS) Short Interest Down 37.6% in March

Arcus Biosciences Inc (NYSE:RCUS) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totalling 948,200 shares, a drop of 37.6% from the February 27th total of 1,520,000 shares. Based on an average daily volume of 247,400 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.9% of the shares of the company are short sold.

Several brokerages recently weighed in on RCUS. Zacks Investment Research upgraded shares of Arcus Biosciences from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Saturday, March 14th. ValuEngine downgraded shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Mizuho reiterated a “buy” rating and issued a $22.00 price objective on shares of Arcus Biosciences in a research report on Wednesday, February 26th. Finally, Barclays began coverage on shares of Arcus Biosciences in a research report on Wednesday, March 4th. They set an “overweight” rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $19.60.

Several hedge funds have recently added to or reduced their stakes in the business. Invus Financial Advisors LLC bought a new stake in shares of Arcus Biosciences during the 4th quarter worth about $18,605,000. Boxer Capital LLC raised its position in shares of Arcus Biosciences by 457.4% during the 4th quarter. Boxer Capital LLC now owns 1,672,233 shares of the company’s stock worth $16,890,000 after buying an additional 1,372,233 shares in the last quarter. State Street Corp raised its position in shares of Arcus Biosciences by 3.8% during the 4th quarter. State Street Corp now owns 640,467 shares of the company’s stock worth $6,469,000 after buying an additional 23,221 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Arcus Biosciences by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 394,994 shares of the company’s stock worth $3,989,000 after buying an additional 9,907 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Arcus Biosciences by 54.2% during the 4th quarter. Renaissance Technologies LLC now owns 217,238 shares of the company’s stock worth $2,194,000 after buying an additional 76,400 shares in the last quarter. Institutional investors own 47.98% of the company’s stock.

Shares of RCUS stock traded down $0.01 during midday trading on Thursday, reaching $12.56. 191,769 shares of the company were exchanged, compared to its average volume of 324,484. Arcus Biosciences has a 12 month low of $6.30 and a 12 month high of $20.40. The company has a market cap of $573.71 million, a P/E ratio of -6.47 and a beta of -0.58. The company’s 50 day moving average price is $14.17 and its two-hundred day moving average price is $10.20.

Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.13. Arcus Biosciences had a negative net margin of 564.73% and a negative return on equity of 44.63%. The company had revenue of $9.75 million for the quarter, compared to the consensus estimate of $1.37 million. Equities research analysts predict that Arcus Biosciences will post -2.19 EPS for the current year.

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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