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

Arcus Biosciences Inc (NYSE:RCUS) saw a significant drop in short interest in 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. Approximately 2.9% of the company’s shares are sold short. Based on an average daily volume of 247,400 shares, the short-interest ratio is currently 3.8 days.

A number of equities analysts have weighed in on RCUS shares. Barclays started coverage on shares of Arcus Biosciences in a research note on Wednesday, March 4th. They set an “overweight” rating and a $24.00 price target on the stock. ValuEngine downgraded shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Mizuho reaffirmed a “buy” rating and set a $22.00 price target on shares of Arcus Biosciences in a research note on Wednesday, February 26th. Finally, Zacks Investment Research raised shares of Arcus Biosciences from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Saturday, March 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.60.

NYSE:RCUS traded down $0.01 during trading hours on Thursday, reaching $12.56. 191,769 shares of the company were exchanged, compared to its average volume of 324,484. The firm has a market cap of $573.71 million, a price-to-earnings ratio of -6.47 and a beta of -0.58. Arcus Biosciences has a 52-week low of $6.30 and a 52-week high of $20.40. The stock has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $10.20.

Arcus Biosciences (NYSE:RCUS) last issued its earnings results on Thursday, March 5th. The company reported ($0.38) EPS for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $9.75 million for the quarter, compared to the consensus estimate of $1.37 million. On average, analysts forecast that Arcus Biosciences will post -2.19 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Arcus Biosciences by 39.9% in the 4th quarter. Bank of Montreal Can now owns 4,434 shares of the company’s stock valued at $45,000 after acquiring an additional 1,264 shares during the period. Citigroup Inc. raised its stake in shares of Arcus Biosciences by 30.3% in the 4th quarter. Citigroup Inc. now owns 9,585 shares of the company’s stock valued at $97,000 after acquiring an additional 2,231 shares during the period. Metropolitan Life Insurance Co NY raised its stake in shares of Arcus Biosciences by 14.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,546 shares of the company’s stock valued at $105,000 after acquiring an additional 1,421 shares during the period. California Public Employees Retirement System raised its stake in shares of Arcus Biosciences by 38.7% in the 3rd quarter. California Public Employees Retirement System now owns 19,700 shares of the company’s stock valued at $179,000 after acquiring an additional 5,500 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Arcus Biosciences by 32.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,315 shares of the company’s stock valued at $195,000 after acquiring an additional 5,278 shares during the period. 47.98% 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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