Arcus Biosciences, Inc. (NYSE:RCUS) Short Interest Down 22.7% in January

Arcus Biosciences, Inc. (NYSE:RCUS) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 6,380,000 shares, a decrease of 22.7% from the January 15th total of 8,250,000 shares. Approximately 13.1% of the company’s shares are sold short. Based on an average daily trading volume, of 693,700 shares, the short-interest ratio is currently 9.2 days.

Insider Activity at Arcus Biosciences

In related news, CFO Robert C. Goeltz II sold 3,594 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $15.00, for a total value of $53,910.00. Following the completion of the transaction, the chief financial officer now directly owns 60,138 shares of the company’s stock, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.30% of the stock is owned by corporate insiders.

Institutional Trading of Arcus Biosciences

A number of hedge funds have recently added to or reduced their stakes in RCUS. Gilead Sciences Inc. acquired a new position in shares of Arcus Biosciences during the fourth quarter worth $447,610,000. Boxer Capital Management LLC acquired a new position in shares of Arcus Biosciences during the fourth quarter worth $23,857,000. Parkman Healthcare Partners LLC lifted its holdings in shares of Arcus Biosciences by 146.9% during the third quarter. Parkman Healthcare Partners LLC now owns 1,025,754 shares of the company’s stock worth $15,684,000 after purchasing an additional 610,219 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Arcus Biosciences by 32.9% during the third quarter. Point72 Asset Management L.P. now owns 2,437,073 shares of the company’s stock worth $37,263,000 after purchasing an additional 603,222 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Arcus Biosciences during the fourth quarter worth $6,596,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Arcus Biosciences Stock Up 2.8 %

NYSE:RCUS traded up $0.35 during mid-day trading on Friday, reaching $13.05. The stock had a trading volume of 390,633 shares, compared to its average volume of 638,745. The stock has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $15.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.24 and a current ratio of 5.24. Arcus Biosciences has a 12 month low of $11.55 and a 12 month high of $20.31.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCUS. Wedbush reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Arcus Biosciences in a research note on Thursday, November 7th. Barclays increased their price objective on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $20.00 target price on shares of Arcus Biosciences in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Arcus Biosciences has an average rating of “Buy” and a consensus target price of $32.67.

Arcus Biosciences Company Profile

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.